A number of research firms have changed their ratings and price targets for Denbury Resources (NYSE: DNR):

  • 1/21/2016 – Denbury Resources had its price target lowered by analysts at Nomura from $4.00 to $1.00.
  • 1/19/2016 – Denbury Resources had its price target lowered by analysts at KLR Group from $8.00 to $4.00.
  • 1/11/2016 – Denbury Resources was upgraded by analysts at Cowen and Company from an “underperform” rating to a “market perform” rating. They now have a $2.00 price target on the stock.
  • 1/5/2016 – Denbury Resources was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Denbury Resurces third-quarter 2015 earnings beat the Zacks Consensus Estimate. With its unique profile, compelling economics and unmatched infrastructure, it is positioned well to deliver long-term sustainable growth. The Cedar Creek Anticline deal adds to Denbury’s inventory of tertiary projects and thereby emphasizes its synergies with the existing carbon dioxide (CO2) infrastructure.  Additional positives for Denbury include a strong financial position, low-risk investments and an active divestment policy. However, the company’s third-quarter 2015 earnings and revenues were lower year over year due to lower price realizations. We remain cautious due to high cost levels associated with the tertiary oil recovery method and harsh weather conditions that may restrict the activity level.”
  • 1/4/2016 – Denbury Resources was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.25 price target on the stock. According to Zacks, “Denbury Resurces third-quarter 2015 earnings beat the Zacks Consensus Estimate. With its unique profile, compelling economics and unmatched infrastructure, it is positioned well to deliver long-term sustainable growth. The Cedar Creek Anticline deal adds to Denbury’s inventory of tertiary projects and thereby emphasizes its synergies with the existing carbon dioxide (CO2) infrastructure.  Additional positives for Denbury include a strong financial position, low-risk investments and an active divestment policy. However, the company’s third-quarter 2015 earnings and revenues were lower year over year due to lower price realizations. We remain cautious due to high cost levels associated with the tertiary oil recovery method and harsh weather conditions that may restrict the activity level.”
  • 12/22/2015 – Denbury Resources had its price target lowered by analysts at KeyBanc to $3.00.
  • 12/18/2015 – Denbury Resources was downgraded by analysts at Stifel Nicolaus from a “hold” rating to a “sell” rating. They now have a $1.50 price target on the stock.
  • 12/8/2015 – Denbury Resources had its price target lowered by analysts at Barclays from $6.00 to $4.00.

Denbury Resources Inc. (NYSE:DNR) traded down 24.63% on Monday, reaching $1.01. The company had a trading volume of 9,602,500 shares. Denbury Resources Inc. has a one year low of $0.86 and a one year high of $9.53. The company’s 50 day moving average is $1.96 and its 200-day moving average is $3.29. The firm’s market capitalization is $353.55 million.

Denbury Resources (NYSE:DNR) last posted its earnings results on Thursday, November 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.05. The business earned $303.60 million during the quarter, compared to the consensus estimate of $387.23 million. The firm’s revenue for the quarter was down 52.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. On average, equities research analysts expect that Denbury Resources Inc. will post $0.40 earnings per share for the current fiscal year.

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. The Company’s 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. The Company’s primary Gulf Coast CO2 source is Jackson Dome. The Company’s mature group of properties includes the initial CO2 field, Little Creek, as well as several other fields, including Brookhaven, Cranfield, Eucutta, Lockhart Crossing, Mallalieu, Martinville, McComb and Soso fields. The Company also holds interest in the 183-mile NEJD CO2 pipeline that runs from Jackson Dome to near Donaldsonville, Louisiana.

12 Month Chart for NYSE:DNR

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