Denbury Inc. (NYSE:DEN) Forecasted to Post FY2022 Earnings of $8.37 Per Share

Denbury Inc. (NYSE:DENGet Rating) – Analysts at Capital One Financial raised their FY2022 earnings per share estimates for shares of Denbury in a research note issued to investors on Wednesday, May 18th. Capital One Financial analyst R. Tullis now expects that the company will post earnings per share of $8.37 for the year, up from their prior forecast of $7.72. Capital One Financial also issued estimates for Denbury’s FY2023 earnings at $9.90 EPS.

Denbury (NYSE:DENGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.12. Denbury had a net margin of 8.79% and a return on equity of 19.79%. The business had revenue of $411.80 million for the quarter, compared to analysts’ expectations of $374.55 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 63.5% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their price target on shares of Denbury from $126.00 to $129.00 in a report on Thursday, May 5th. Zacks Investment Research cut shares of Denbury from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Citigroup started coverage on shares of Denbury in a report on Tuesday, May 10th. They issued a “buy” rating and a $83.00 price target on the stock. Finally, Roth Capital raised shares of Denbury from a “neutral” rating to a “buy” rating and upped their price target for the stock from $78.75 to $87.75 in a report on Friday, February 18th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Denbury presently has an average rating of “Buy” and a consensus target price of $98.28.

Shares of DEN stock opened at $69.67 on Monday. The company’s fifty day simple moving average is $72.78 and its two-hundred day simple moving average is $74.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.46. Denbury has a 1 year low of $60.45 and a 1 year high of $91.30. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 32.25 and a beta of 3.34.

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new stake in shares of Denbury during the first quarter worth about $46,000. Dark Forest Capital Management LP boosted its holdings in shares of Denbury by 885.2% during the third quarter. Dark Forest Capital Management LP now owns 601 shares of the company’s stock worth $42,000 after purchasing an additional 540 shares during the period. CWM LLC purchased a new stake in shares of Denbury during the fourth quarter worth about $66,000. Meeder Asset Management Inc. purchased a new stake in shares of Denbury during the first quarter worth about $80,000. Finally, CSS LLC IL purchased a new stake in shares of Denbury during the fourth quarter worth about $204,000.

About Denbury (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.

See Also

Earnings History and Estimates for Denbury (NYSE:DEN)

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