Brokerages Set Denbury Resources Inc. (NYSE:DNR) Price Target at $2.56

Denbury Resources Inc. (NYSE:DNR) has earned an average rating of “Hold” from the eleven brokerages that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $2.56.

Several analysts have issued reports on the stock. UBS AG reaffirmed a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of Denbury Resources in a report on Friday, May 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.50 price target on shares of Denbury Resources in a report on Friday, July 14th. BMO Capital Markets reduced their price target on shares of Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating on the stock in a report on Friday, July 14th. ValuEngine downgraded shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Credit Suisse Group reaffirmed an “underperform” rating and issued a $2.00 price target on shares of Denbury Resources in a report on Friday, June 2nd.

Several institutional investors have recently bought and sold shares of DNR. Raymond James Financial Services Advisors Inc. raised its position in Denbury Resources by 2.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,390 shares of the oil and natural gas company’s stock worth $119,000 after buying an additional 632 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Denbury Resources by 15.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,796 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 5,900 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Denbury Resources during the first quarter worth $113,000. Tudor Investment Corp ET AL purchased a new position in Denbury Resources during the first quarter worth $140,000. Finally, Credit Agricole S A raised its position in Denbury Resources by 29.3% in the fourth quarter. Credit Agricole S A now owns 59,548 shares of the oil and natural gas company’s stock worth $219,000 after buying an additional 13,495 shares in the last quarter. 91.11% of the stock is owned by institutional investors and hedge funds.

Denbury Resources (NYSE:DNR) traded down 5.56% during mid-day trading on Tuesday, reaching $1.36. 6,510,542 shares of the company’s stock were exchanged. Denbury Resources has a 1-year low of $1.27 and a 1-year high of $4.29. The stock’s market capitalization is $529.58 million. The firm’s 50-day moving average is $1.49 and its 200 day moving average is $2.39.

Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, May 4th. The oil and natural gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.01. Denbury Resources had a negative net margin of 72.85% and a positive return on equity of 2.49%. The business had revenue of $264 million during the quarter, compared to analysts’ expectations of $254.67 million. During the same period last year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was up 35.5% on a year-over-year basis. Analysts forecast that Denbury Resources will post $0.04 earnings per share for the current fiscal year.

Denbury Resources Company Profile

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.