Denbury Resources (DNR) Rating Increased to Buy at Mizuho

Mizuho upgraded shares of Denbury Resources (NYSE:DNR) from a neutral rating to a buy rating in a research report report published on Tuesday, Marketbeat reports.

Several other analysts have also recently issued reports on the company. 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 note 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 reaffirmed a hold rating and set a $2.00 price objective on shares of Denbury Resources in a research report on Wednesday, December 20th. KeyCorp reaffirmed a hold rating on shares of Denbury Resources in a research report on Monday, November 13th. Finally, BMO Capital Markets set a $1.00 price objective on Denbury Resources and gave the company a hold rating in a research report on Tuesday, October 10th. Four equities 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 assigned a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $2.13.

Denbury Resources (NYSE:DNR) traded up $0.12 during midday trading on Tuesday, hitting $2.47. The company had a trading volume of 10,121,608 shares, compared to its average volume of 10,680,382. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.91. The company has a market capitalization of $995.52, a PE ratio of -2.74 and a beta of 3.56. Denbury Resources has a 12 month low of $0.92 and a 12 month high of $3.83.

Denbury Resources (NYSE:DNR) last posted 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 Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The company 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%. The firm’s revenue was up 4.9% compared to the same quarter last year. equities analysts anticipate that Denbury Resources will post 0.09 EPS for the current year.

A number of institutional investors have recently bought and sold shares of DNR. Schwab Charles Investment Management Inc. boosted its position in Denbury Resources by 163.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock valued at $10,162,000 after acquiring an additional 4,125,074 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Denbury Resources by 778.1% during the third quarter. Janus Henderson Group PLC now owns 3,142,630 shares of the oil and natural gas company’s stock valued at $4,211,000 after purchasing an additional 2,784,747 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Denbury Resources by 24.5% during the second quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock valued at $18,510,000 after purchasing an additional 2,382,134 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Denbury Resources by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 10,103,099 shares of the oil and natural gas company’s stock valued at $15,458,000 after purchasing an additional 1,573,866 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Denbury Resources during the second quarter valued at approximately $769,000. 80.23% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Denbury Resources (NYSE:DNR)

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