Denbury Resources (DNR) Stock Rating Lowered by KLR Group

KLR Group lowered shares of Denbury Resources (NYSE:DNR) from a buy rating to a hold rating in a report published on Monday, Marketbeat Ratings reports. They currently have $4.00 target price on the oil and natural gas company’s stock.

A number of other equities analysts have also recently commented on DNR. Zacks Investment Research cut shares of Denbury Resources from a buy rating to a hold rating in a research note on Thursday, April 26th. UBS assumed coverage on shares of Denbury Resources in a research note on Wednesday, March 7th. They set a neutral rating and a $2.50 price target for the company. Finally, Mizuho raised shares of Denbury Resources from a neutral rating to a buy rating in a research note on Tuesday, January 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $2.25.

Denbury Resources opened at $4.09 on Monday, Marketbeat Ratings reports. Denbury Resources has a 12 month low of $3.76 and a 12 month high of $3.83. The company has a debt-to-equity ratio of 4.24, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a market cap of $1.73 billion, a P/E ratio of 14.00 and a beta of 3.13.

Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Denbury Resources had a net margin of 15.01% and a return on equity of 19.63%. The firm had revenue of $347.57 million during the quarter, compared to analysts’ expectations of $324.65 million. During the same period in the previous year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. research analysts expect that Denbury Resources will post 0.38 earnings per share for the current year.

In other Denbury Resources news, Director Laura A. Sugg sold 12,500 shares of the business’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $3.00, for a total value of $37,500.00. Following the completion of the sale, the director now directly owns 140,841 shares of the company’s stock, valued at approximately $422,523. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 50,000 shares of company stock valued at $157,625. 1.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in DNR. Dimensional Fund Advisors LP boosted its position in Denbury Resources by 191.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,946,951 shares of the oil and natural gas company’s stock valued at $35,475,000 after buying an additional 8,510,030 shares during the period. Millennium Management LLC boosted its position in Denbury Resources by 314.1% in the 4th quarter. Millennium Management LLC now owns 3,410,876 shares of the oil and natural gas company’s stock valued at $7,538,000 after buying an additional 2,587,244 shares during the period. LSV Asset Management purchased a new stake in Denbury Resources in the 1st quarter valued at about $6,551,000. BlackRock Inc. boosted its position in Denbury Resources by 2.9% in the 4th quarter. BlackRock Inc. now owns 52,960,970 shares of the oil and natural gas company’s stock valued at $117,044,000 after buying an additional 1,516,392 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in Denbury Resources in the 4th quarter valued at about $2,002,000. 81.98% of the stock is owned by institutional investors.

About Denbury Resources

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.

Analyst Recommendations for Denbury Resources (NYSE:DNR)

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