Denbury Resources (NYSE:DNR) announced its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02, MarketWatch Earnings reports. The business had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.49 million. Denbury Resources had a net margin of 18.06% and a return on equity of 20.60%. The company’s revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS.
Shares of NYSE:DNR traded down $0.06 on Friday, hitting $1.44. The company had a trading volume of 11,005,000 shares, compared to its average volume of 12,085,959. Denbury Resources has a 1 year low of $1.39 and a 1 year high of $6.75. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 2.40. The stock has a market cap of $664.17 million, a price-to-earnings ratio of 3.00 and a beta of 3.57.
A number of brokerages have issued reports on DNR. Imperial Capital set a $2.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a report on Thursday, March 28th. TheStreet lowered shares of Denbury Resources from a “c-” rating to a “d+” rating in a report on Thursday, May 23rd. Oppenheimer reissued a “hold” rating on shares of Denbury Resources in a report on Thursday, March 21st. Finally, Zacks Investment Research lowered shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $4.36.
A number of hedge funds and other institutional investors have recently modified their holdings of DNR. Norges Bank purchased a new position in Denbury Resources during the 4th quarter valued at about $12,891,000. Encompass Capital Advisors LLC purchased a new position in Denbury Resources during the 1st quarter valued at about $15,375,000. JPMorgan Chase & Co. lifted its position in Denbury Resources by 48.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,680,373 shares of the oil and natural gas company’s stock valued at $103,419,000 after acquiring an additional 5,428,350 shares during the period. Vanguard Group Inc lifted its position in Denbury Resources by 4.6% during the 3rd quarter. Vanguard Group Inc now owns 61,830,605 shares of the oil and natural gas company’s stock valued at $383,349,000 after acquiring an additional 2,706,664 shares during the period. Finally, Vanguard Group Inc. lifted its position in Denbury Resources by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 61,830,605 shares of the oil and natural gas company’s stock valued at $383,349,000 after acquiring an additional 2,706,664 shares during the period. 80.09% 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.
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