Denbury Inc. (NYSE:DEN) Receives Consensus Rating of “Buy” from Analysts

Denbury Inc. (NYSE:DENGet Rating) has received an average recommendation of “Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $98.97.

A number of analysts have recently issued reports on DEN shares. Wolfe Research began coverage on Denbury in a research report on Tuesday, December 14th. They set an “outperform” rating and a $117.00 target price on the stock. Zacks Investment Research cut shares of Denbury from a “buy” rating to a “hold” rating in a report on Tuesday, March 22nd. Roth Capital upgraded shares of Denbury from a “neutral” rating to a “buy” rating and increased their target price for the company from $78.75 to $87.75 in a research note on Friday, February 18th. Bank of America initiated coverage on shares of Denbury in a research report on Monday, January 10th. They issued a “neutral” rating and a $92.00 price target for the company. Finally, KeyCorp dropped their price objective on shares of Denbury from $98.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 20th.

DEN stock traded down $0.75 during trading on Thursday, hitting $73.84. 13,316 shares of the company traded hands, compared to its average volume of 550,447. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.03. Denbury has a 1 year low of $44.71 and a 1 year high of $91.30. The firm has a market capitalization of $3.71 billion, a P/E ratio of 92.86 and a beta of 3.45. The stock’s 50-day moving average is $73.60.

Denbury (NYSE:DENGet Rating) last announced its earnings results on Thursday, February 24th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $361.90 million during the quarter, compared to analysts’ expectations of $299.44 million. Denbury had a return on equity of 13.50% and a net margin of 4.45%. During the same period in the prior year, the firm earned $0.58 EPS. Research analysts predict that Denbury will post 7.29 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in DEN. Sachem Head Capital Management LP purchased a new stake in Denbury during the fourth quarter valued at about $59,786,000. Allspring Global Investments Holdings LLC bought a new position in Denbury during the 4th quarter valued at $54,082,000. Rokos Capital Management LLP bought a new stake in shares of Denbury during the 4th quarter worth $45,142,000. Morgan Stanley lifted its holdings in shares of Denbury by 227.5% in the second quarter. Morgan Stanley now owns 692,403 shares of the company’s stock valued at $53,162,000 after purchasing an additional 480,971 shares in the last quarter. Finally, Discovery Capital Management LLC CT raised its holdings in shares of Denbury by 43.4% during the fourth quarter. Discovery Capital Management LLC CT now owns 1,400,283 shares of the company’s stock worth $107,248,000 after acquiring an additional 423,864 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

Denbury Company Profile (Get Rating)

Denbury Inc, an independent energy company, focuses on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The company holds interests in various oil and natural gas properties located in Mississippi, Texas, and Louisiana in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

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Analyst Recommendations for Denbury (NYSE:DEN)

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