Denbury Resources (DNR) Upgraded by Mizuho to Buy

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

Several other research firms have also commented on DNR. Zacks Investment Research upgraded shares of Denbury Resources from a hold rating to a strong-buy rating and set a $2.50 price target on the stock in a research report on Tuesday, January 9th. ValuEngine lowered shares of Denbury Resources from a hold rating to a sell rating in a research report on Sunday, December 31st. Royal Bank of Canada reiterated a hold rating and issued a $2.00 price target on shares of Denbury Resources in a research report on Wednesday, December 20th. KeyCorp restated a hold rating on shares of Denbury Resources in a research report on Monday, November 13th. Finally, Imperial Capital started coverage on shares of Denbury Resources in a research report on Tuesday, October 3rd. They set an in-line rating and a $2.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $2.13.

Denbury Resources (DNR) traded down $0.01 during mid-day trading on Tuesday, hitting $2.44. 8,642,939 shares of the stock traded hands, compared to its average volume of 10,345,238. The firm has a market capitalization of $969.33, a price-to-earnings ratio of -2.71 and a beta of 3.56. Denbury Resources has a twelve month low of $0.92 and a twelve month high of $3.83. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.91.

Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. The business had revenue of $266.56 million for the quarter, compared to analyst estimates of $261.84 million. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. sell-side analysts expect that Denbury Resources will post 0.09 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky boosted its position in Denbury Resources by 11.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock worth $148,000 after acquiring an additional 10,000 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in Denbury Resources by 4.6% during the second quarter. Thrivent Financial For Lutherans now owns 236,150 shares of the oil and natural gas company’s stock worth $361,000 after acquiring an additional 10,380 shares during the last quarter. California State Teachers Retirement System boosted its position in Denbury Resources by 1.7% during the second quarter. California State Teachers Retirement System now owns 704,541 shares of the oil and natural gas company’s stock worth $1,078,000 after acquiring an additional 11,700 shares during the last quarter. Principal Financial Group Inc. boosted its position in Denbury Resources by 0.4% during the second quarter. Principal Financial Group Inc. now owns 3,094,321 shares of the oil and natural gas company’s stock worth $4,735,000 after acquiring an additional 12,302 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Denbury Resources by 12.7% during the second quarter. UBS Asset Management Americas Inc. now owns 370,421 shares of the oil and natural gas company’s stock worth $567,000 after acquiring an additional 41,794 shares during the last quarter. Hedge funds and other institutional investors own 80.23% of the company’s stock.

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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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