Denbury Resources Inc. to Post FY2016 Earnings of $0.03 Per Share, KeyCorp Forecasts (DNR)
Denbury Resources Inc. (NYSE:DNR) – KeyCorp reduced their FY2016 earnings per share estimates for Denbury Resources in a note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum now anticipates that the firm will post earnings per share of $0.03 for the year, down from their prior estimate of $0.04. KeyCorp also issued estimates for Denbury Resources’ Q1 2017 earnings at ($0.01) EPS, Q2 2017 earnings at $0.02 EPS, Q3 2017 earnings at $0.13 EPS, Q4 2017 earnings at $0.15 EPS and FY2017 earnings at $0.30 EPS.
A number of other analysts have also recently weighed in on DNR. Mizuho started coverage on Denbury Resources in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $3.00 price target on the stock. Johnson Rice reiterated a “hold” rating on shares of Denbury Resources in a research report on Tuesday, October 18th. Nomura reiterated a “sell” rating and issued a $3.00 price target on shares of Denbury Resources in a research report on Monday, November 7th. Finally, Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Tuesday, November 8th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.88.
Shares of Denbury Resources (NYSE:DNR) opened at 3.80 on Friday. Denbury Resources has a 12 month low of $0.86 and a 12 month high of $4.80. The firm has a 50-day moving average of $3.76 and a 200 day moving average of $3.19. The company’s market capitalization is $1.48 billion.
Institutional investors have recently modified their holdings of the stock. Icon Advisers Inc. Co. raised its position in shares of Denbury Resources by 28.3% in the third quarter. Icon Advisers Inc. Co. now owns 1,020,450 shares of the company’s stock valued at $3,296,000 after buying an additional 225,000 shares during the period. Henderson Group PLC raised its position in shares of Denbury Resources by 33.5% in the third quarter. Henderson Group PLC now owns 3,586,528 shares of the company’s stock valued at $11,584,000 after buying an additional 900,271 shares during the period. Retirement Systems of Alabama raised its position in shares of Denbury Resources by 13.5% in the third quarter. Retirement Systems of Alabama now owns 513,303 shares of the company’s stock valued at $1,658,000 after buying an additional 61,050 shares during the period. Nomura Holdings Inc. raised its position in shares of 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 during the period. Finally, Whitebox Advisors LLC purchased a new position in shares of Denbury Resources during the second quarter valued at about $4,222,000. 91.01% of the stock is currently owned by institutional investors and hedge funds.
About Denbury Resources
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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