Denbury (NYSE:DEN) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Denbury (NYSE:DEN) from a strong-buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “Denbury Inc. is an oil and natural gas company. It involved in exploitation, drilling and proven engineering extraction practices. The company’s focused operating areas include the Gulf Coast and Rocky Mountain regions. Denbury Inc., formerly known as Denbury Resources Inc., is based in PLANO, Texas. “

Other equities research analysts have also recently issued research reports about the company. Roth Capital cut Denbury from a buy rating to a neutral rating and boosted their price target for the company from $57.00 to $78.75 in a research note on Wednesday, July 7th. Stifel Nicolaus assumed coverage on shares of Denbury in a research report on Thursday, June 24th. They issued a buy rating and a $93.00 target price for the company. KeyCorp boosted their target price on shares of Denbury from $82.00 to $86.00 and gave the stock an overweight rating in a research report on Thursday, June 24th. Siebert Williams Shank assumed coverage on shares of Denbury in a research report on Friday, June 11th. They issued a buy rating and a $100.00 target price for the company. Finally, MKM Partners assumed coverage on shares of Denbury in a research report on Thursday, September 9th. They issued a buy rating and a $96.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $81.25.

Shares of NYSE DEN opened at $71.55 on Friday. Denbury has a one year low of $15.43 and a one year high of $81.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.39 and a current ratio of 0.39. The business has a 50-day moving average price of $67.97 and a two-hundred day moving average price of $61.23.

Denbury (NYSE:DEN) last announced its quarterly earnings data on Thursday, August 5th. The company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.12. Denbury had a negative return on equity of 70.74% and a negative net margin of 106.78%. The firm had revenue of $301.37 million during the quarter, compared to analyst estimates of $245.30 million. As a group, analysts anticipate that Denbury will post 2.19 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Denbury by 21.1% during the 2nd quarter. FMR LLC now owns 5,965,241 shares of the company’s stock worth $458,011,000 after buying an additional 1,038,311 shares during the period. Vanguard Group Inc. boosted its holdings in Denbury by 539.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,663,254 shares of the company’s stock valued at $358,045,000 after purchasing an additional 3,933,584 shares during the period. Silver Point Capital L.P. bought a new stake in Denbury in the 1st quarter valued at $201,425,000. William Blair Investment Management LLC boosted its holdings in Denbury by 206.3% in the 2nd quarter. William Blair Investment Management LLC now owns 3,719,598 shares of the company’s stock valued at $285,591,000 after purchasing an additional 2,505,341 shares during the period. Finally, BlackRock Inc. boosted its holdings in Denbury by 244.2% in the 2nd quarter. BlackRock Inc. now owns 3,335,034 shares of the company’s stock valued at $256,064,000 after purchasing an additional 2,366,171 shares during the period.

Denbury Company Profile

Denbury Inc, an independent energy company, focuses on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The company holds interests in various oil and natural gas properties located in Mississippi, Texas, and Louisiana in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

Recommended Story: What sectors are represented in the Nikkei Index?

Get a free copy of the Zacks research report on Denbury (DEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Denbury (NYSE:DEN)

Receive News & Ratings for Denbury Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Denbury and related companies with MarketBeat.com's FREE daily email newsletter.