Denbury Resources (DNR) Rating Increased to C at TheStreet

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TheStreet upgraded shares of Denbury Resources (NYSE:DNR) from a d+ rating to a c rating in a report published on Monday morning.

A number of other brokerages have also recently commented on DNR. Zacks Investment Research cut Denbury Resources from a buy rating to a hold rating in a report on Tuesday, October 9th. Oppenheimer assumed coverage on Denbury Resources in a report on Wednesday, October 3rd. They set an outperform rating and a $9.00 target price on the stock. ValuEngine upgraded Denbury Resources from a sell rating to a hold rating in a report on Thursday, August 23rd. KLR Group reiterated a hold rating and set a $5.00 target price on shares of Denbury Resources in a report on Monday, August 20th. Finally, Imperial Capital reiterated an outperform rating and set a $4.00 target price on shares of Denbury Resources in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $4.79.

DNR opened at $1.81 on Monday. The company has a market capitalization of $921.09 million, a P/E ratio of 12.93 and a beta of 3.74. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.55 and a current ratio of 0.55. Denbury Resources has a 1-year low of $1.66 and a 1-year high of $6.75.

Denbury Resources (NYSE:DNR) last announced its earnings results on Thursday, November 8th. The oil and natural gas company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $395.00 million for the quarter, compared to analysts’ expectations of $348.39 million. Denbury Resources had a return on equity of 27.79% and a net margin of 18.81%. Denbury Resources’s quarterly revenue was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. As a group, equities research analysts forecast that Denbury Resources will post 0.48 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in DNR. MetLife Investment Advisors LLC lifted its stake in shares of Denbury Resources by 7.1% during the 2nd quarter. MetLife Investment Advisors LLC now owns 203,761 shares of the oil and natural gas company’s stock worth $980,000 after purchasing an additional 13,424 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Denbury Resources by 13.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 149,151 shares of the oil and natural gas company’s stock worth $924,000 after purchasing an additional 18,035 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Denbury Resources by 19.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 128,613 shares of the oil and natural gas company’s stock worth $797,000 after purchasing an additional 21,000 shares during the period. Comerica Bank lifted its stake in shares of Denbury Resources by 5.0% during the 3rd quarter. Comerica Bank now owns 445,758 shares of the oil and natural gas company’s stock worth $2,175,000 after purchasing an additional 21,042 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Denbury Resources by 27.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 105,716 shares of the oil and natural gas company’s stock worth $655,000 after purchasing an additional 22,534 shares during the period. Hedge funds and other institutional investors own 87.57% of the company’s stock.

Denbury Resources Company Profile

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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