Denbury Resources (DNR) Upgraded to “Buy” at Mizuho
Denbury Resources (NYSE:DNR) was upgraded by analysts at Mizuho from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.
Several other brokerages have also recently issued reports on DNR. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “strong-buy” rating and set a $2.50 target price on the stock in a research report on Tuesday, January 9th. ValuEngine cut Denbury Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Royal Bank of Canada reissued a “hold” rating and issued a $2.00 target price on shares of Denbury Resources in a research report on Wednesday, December 20th. KeyCorp reissued a “hold” rating on shares of Denbury Resources in a research report on Monday, November 13th. Finally, Imperial Capital assumed coverage on Denbury Resources in a research report on Tuesday, October 3rd. They issued an “in-line” rating and a $2.00 target price on the stock. Four research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Denbury Resources presently has a consensus rating of “Hold” and a consensus price target of $2.13.
Shares of Denbury Resources (NYSE:DNR) traded up $0.12 during trading hours on Tuesday, reaching $2.47. The company’s stock had a trading volume of 10,121,600 shares, compared to its average volume of 10,680,382. The stock has a market capitalization of $945.10, a PE ratio of -2.74 and a beta of 3.57. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.53 and a quick ratio of 0.53. Denbury Resources has a fifty-two week low of $0.92 and a fifty-two week high of $3.83.
Denbury Resources (NYSE:DNR) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $266.56 million for the quarter, compared to analysts’ expectations of $261.84 million. Denbury Resources had a positive return on equity of 0.28% and a negative net margin of 32.50%. Denbury Resources’s revenue was up 4.9% compared to the same quarter last year. equities analysts forecast that Denbury Resources will post 0.09 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC purchased a new position in shares of Denbury Resources during the 2nd quarter valued at about $217,000. Piedmont Investment Advisors LLC lifted its position in shares of Denbury Resources by 261.7% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 86,127 shares of the oil and natural gas company’s stock valued at $132,000 after buying an additional 62,312 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Denbury Resources by 11.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock valued at $148,000 after buying an additional 10,000 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Denbury Resources during the 3rd quarter valued at about $140,000. Finally, Schroder Investment Management Group purchased a new position in shares of Denbury Resources during the 3rd quarter valued at about $184,000. 80.23% of the stock is currently owned by hedge funds and other institutional investors.
About Denbury Resources
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in 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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