Zacks Investment Research Upgrades Denbury (NYSE:DEN) to Buy

Zacks Investment Research upgraded shares of Denbury (NYSE:DENGet Rating) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. They currently have $72.00 price objective on the stock.

According to Zacks, “Denbury Inc. is an oil and natural gas company. It involved in exploitation, drilling and proven engineering extraction practices. The company’s focused operating areas include the Gulf Coast and Rocky Mountain regions. Denbury Inc., formerly known as Denbury Resources Inc., is based in PLANO, Texas. “

A number of other equities research analysts have also commented on DEN. Bank of America assumed coverage on Denbury in a research report on Monday, January 10th. They issued a neutral rating and a $92.00 price target on the stock. KeyCorp reduced their price target on Denbury from $98.00 to $97.00 and set an overweight rating on the stock in a research report on Thursday, January 20th. Finally, Roth Capital upgraded Denbury from a neutral rating to a buy rating and upped their price target for the company from $78.75 to $87.75 in a research report on Friday, February 18th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $95.97.

Shares of DEN stock opened at $66.38 on Tuesday. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 82.98 and a beta of 3.33. Denbury has a twelve month low of $50.54 and a twelve month high of $91.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s fifty day moving average price is $74.05.

Denbury (NYSE:DENGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $361.90 million for the quarter, compared to analyst estimates of $299.44 million. Denbury had a return on equity of 13.50% and a net margin of 4.45%. During the same quarter in the previous year, the company posted $0.58 EPS. On average, sell-side analysts anticipate that Denbury will post 7.53 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its stake in shares of Denbury by 7.2% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 37,917 shares of the company’s stock valued at $2,979,000 after purchasing an additional 2,535 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Denbury in the 1st quarter valued at about $46,000. Strs Ohio raised its stake in Denbury by 4.1% during the 1st quarter. Strs Ohio now owns 20,400 shares of the company’s stock worth $1,602,000 after buying an additional 800 shares during the period. Empowered Funds LLC raised its stake in Denbury by 7.8% during the 1st quarter. Empowered Funds LLC now owns 24,385 shares of the company’s stock worth $1,916,000 after buying an additional 1,754 shares during the period. Finally, BlackRock Inc. raised its stake in Denbury by 2.0% during the 4th quarter. BlackRock Inc. now owns 3,335,760 shares of the company’s stock worth $255,485,000 after buying an additional 65,404 shares during the period.

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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