Q3 2016 EPS Estimates for Denbury Resources Inc. (DNR) Raised by Analyst
Denbury Resources Inc. (NYSE:DNR) – Capital One Financial Corp. boosted their Q3 2016 EPS estimates for shares of Denbury Resources in a report released on Monday. Capital One Financial Corp. analyst R. Tullis now expects that the firm will post earnings of $0.00 per share for the quarter, up from their prior forecast of ($0.05).
DNR has been the topic of several other reports. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Wednesday, August 10th. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, Barclays PLC downgraded Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $3.00 to $2.50 in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Denbury Resources presently has a consensus rating of “Hold” and a consensus target price of $2.70.
Denbury Resources (NYSE:DNR) traded up 4.73% during midday trading on Wednesday, reaching $3.32. The company had a trading volume of 6,840,997 shares. The company has a 50-day moving average of $3.04 and a 200-day moving average of $3.34. Denbury Resources has a 12-month low of $0.86 and a 12-month high of $4.80. The stock’s market capitalization is $1.23 billion.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The business earned $255.15 million during the quarter, compared to analyst estimates of $285.70 million. Denbury Resources had a positive return on equity of 6.04% and a negative net margin of 361.13%. Denbury Resources’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS.
A number of hedge funds have recently bought and sold shares of DNR. Nomura Holdings Inc. raised its stake in Denbury Resources by 3,617.1% in the second quarter. Nomura Holdings Inc. now owns 3,234,000 shares of the company’s stock valued at $11,608,000 after buying an additional 3,146,996 shares in the last quarter. Mason Street Advisors LLC bought a new stake in Denbury Resources during the second quarter valued at about $574,000. Sterling Capital Management LLC raised its stake in Denbury Resources by 142.6% in the second quarter. Sterling Capital Management LLC now owns 936,630 shares of the company’s stock valued at $3,362,000 after buying an additional 550,614 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Denbury Resources by 59.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,053,586 shares of the company’s stock valued at $7,373,000 after buying an additional 761,725 shares in the last quarter. Finally, Pine River Capital Management L.P. bought a new stake in Denbury Resources during the second quarter valued at about $2,468,000. Institutional investors own 90.47% of the company’s stock.
In related news, Director Greg Mcmichael sold 10,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the sale, the director now owns 89,379 shares in the company, valued at $279,756.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.
Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.
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