Brokerages Anticipate Denbury Resources Inc. (NYSE:DNR) Will Post Quarterly Sales of $333.16 Million

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Wall Street analysts expect Denbury Resources Inc. (NYSE:DNR) to post $333.16 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Denbury Resources’ earnings, with the highest sales estimate coming in at $333.89 million and the lowest estimate coming in at $332.60 million. Denbury Resources posted sales of $387.06 million in the same quarter last year, which suggests a negative year over year growth rate of 13.9%. The firm is scheduled to issue its next earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Denbury Resources will report full-year sales of $1.30 billion for the current financial year, with estimates ranging from $1.27 billion to $1.34 billion. For the next year, analysts anticipate that the company will post sales of $1.30 billion, with estimates ranging from $1.19 billion to $1.43 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Denbury Resources.

Denbury Resources (NYSE:DNR) last issued its earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $305.40 million during the quarter, compared to analyst estimates of $314.49 million. Denbury Resources had a return on equity of 20.60% and a net margin of 18.06%. The business’s revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS.

A number of analysts have recently commented on the company. Oppenheimer reissued a “hold” rating on shares of Denbury Resources in a research note on Thursday, March 21st. Imperial Capital upgraded Denbury Resources from an “in-line” rating to an “outperform” rating in a research note on Wednesday, April 24th. Zacks Investment Research downgraded Denbury Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Finally, TheStreet downgraded Denbury Resources from a “c-” rating to a “d+” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Denbury Resources has an average rating of “Hold” and a consensus price target of $4.36.

NYSE:DNR traded up $0.11 during midday trading on Monday, reaching $1.25. 14,025,662 shares of the company traded hands, compared to its average volume of 11,514,174. Denbury Resources has a twelve month low of $1.12 and a twelve month high of $6.75. The firm has a market capitalization of $525.80 million, a P/E ratio of 2.60 and a beta of 3.68. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.59 and a quick ratio of 0.59.

In other news, insider Christian S. Kendall bought 150,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were purchased at an average price of $2.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the insider now directly owns 1,751,765 shares of the company’s stock, valued at approximately $3,503,530. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of Denbury Resources by 4.1% during the 1st quarter. Nordea Investment Management AB now owns 361,900 shares of the oil and natural gas company’s stock worth $742,000 after purchasing an additional 14,200 shares during the last quarter. Jane Street Group LLC raised its holdings in Denbury Resources by 109.4% in the 1st quarter. Jane Street Group LLC now owns 489,797 shares of the oil and natural gas company’s stock valued at $1,004,000 after acquiring an additional 255,924 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in Denbury Resources in the 1st quarter valued at approximately $15,375,000. Geode Capital Management LLC raised its holdings in Denbury Resources by 10.8% in the 1st quarter. Geode Capital Management LLC now owns 5,312,706 shares of the oil and natural gas company’s stock valued at $10,890,000 after acquiring an additional 516,721 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new position in Denbury Resources in the 1st quarter valued at approximately $184,000. Institutional investors own 80.09% of the company’s stock.

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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