KeyCorp Comments on Denbury Resources Inc.’s Q1 2018 Earnings (DNR)

Denbury Resources Inc. (NYSE:DNR) – Investment analysts at KeyCorp raised their Q1 2018 earnings per share estimates for shares of Denbury Resources in a research note issued on Tuesday. KeyCorp analyst D. Deckelbaum now expects that the oil and natural gas company will earn $0.11 per share for the quarter, up from their prior estimate of $0.02. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Denbury Resources’ Q2 2018 earnings at $0.11 EPS, Q3 2018 earnings at $0.10 EPS, FY2018 earnings at $0.41 EPS and FY2019 earnings at $0.44 EPS.

Denbury Resources (NYSE:DNR) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $266.56 million during the quarter, compared to analysts’ expectations of $261.84 million. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The company’s revenue was up 4.9% on a year-over-year basis.

DNR has been the subject of a number of other research reports. BMO Capital Markets set a $1.00 target price on shares of Denbury Resources and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research report on Tuesday, October 10th. Royal Bank of Canada set a $2.00 target price on shares of Denbury Resources and gave the stock a “hold” rating in a research report on Friday, August 25th. BidaskClub cut shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, Imperial Capital initiated 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 for the company. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Denbury Resources presently has a consensus rating of “Hold” and an average price target of $1.94.

Denbury Resources (NYSE DNR) opened at $1.61 on Friday. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.53 and a quick ratio of 0.53. Denbury Resources has a 52-week low of $0.92 and a 52-week high of $4.05.

Large investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC raised its position in shares of Denbury Resources by 261.7% in the second quarter. Piedmont Investment Advisors LLC now owns 86,127 shares of the oil and natural gas company’s stock valued at $132,000 after buying an additional 62,312 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Denbury Resources in the third quarter valued at approximately $140,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Denbury Resources by 11.5% in 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 valued at $148,000 after buying an additional 10,000 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Denbury Resources in the third quarter valued at approximately $184,000. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Denbury Resources by 59.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 149,470 shares of the oil and natural gas company’s stock valued at $200,000 after buying an additional 55,480 shares during the last quarter. 80.27% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Denbury Resources (NYSE:DNR)

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