ValuEngine downgraded shares of Denbury Resources (NYSE:DNR) from a sell rating to a strong sell rating in a research note released on Friday morning, ValuEngine reports.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada set a $2.00 price target on shares of Denbury Resources and gave the company a hold rating in a report on Monday, August 12th. Imperial Capital set a $1.00 target price on shares of Denbury Resources and gave the stock a hold rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Denbury Resources has a consensus rating of Hold and a consensus price target of $2.25.

Denbury Resources stock opened at $0.97 on Friday. The stock has a market cap of $478.91 million, a P/E ratio of 2.02 and a beta of 3.44. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.82. Denbury Resources has a twelve month low of $0.87 and a twelve month high of $2.68. The company’s 50-day moving average price is $1.04 and its two-hundred day moving average price is $1.18.

Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Thursday, November 7th. The oil and natural gas company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The firm had revenue of $315.45 million for the quarter, compared to analysts’ expectations of $307.85 million. Denbury Resources had a net margin of 28.28% and a return on equity of 15.74%. The business’s revenue was down 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. Equities analysts anticipate that Denbury Resources will post 0.41 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in DNR. NJ State Employees Deferred Compensation Plan grew its position in shares of Denbury Resources by 140.0% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 240,000 shares of the oil and natural gas company’s stock worth $298,000 after purchasing an additional 140,000 shares in the last quarter. Shikiar Asset Management Inc. acquired a new position in shares of Denbury Resources during the 2nd quarter worth approximately $248,000. SG Americas Securities LLC grew its position in shares of Denbury Resources by 37.2% during the 2nd quarter. SG Americas Securities LLC now owns 297,826 shares of the oil and natural gas company’s stock worth $369,000 after purchasing an additional 80,770 shares in the last quarter. Endurance Wealth Management Inc. grew its position in shares of Denbury Resources by 3.2% during the 2nd quarter. Endurance Wealth Management Inc. now owns 1,358,796 shares of the oil and natural gas company’s stock worth $1,684,000 after purchasing an additional 42,450 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Denbury Resources by 436.5% during the 2nd quarter. First Trust Advisors LP now owns 1,179,148 shares of the oil and natural gas company’s stock worth $1,462,000 after purchasing an additional 959,380 shares in the last quarter. Hedge funds and other institutional investors own 70.93% of the company’s stock.

About Denbury Resources

Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

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Analyst Recommendations for Denbury Resources (NYSE:DNR)

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