Denbury (NYSE:DEN) Now Covered by Analysts at KeyCorp

KeyCorp started coverage on shares of Denbury (NYSE:DENGet Rating) in a research note released on Monday morning, The Fly reports. The firm issued an overweight rating on the stock.

DEN has been the topic of several other reports. MKM Partners reiterated a buy rating and issued a $75.00 price target on shares of Denbury in a research report on Wednesday, July 20th. Bank of America lowered shares of Denbury from a neutral rating to an underperform rating and decreased their target price for the stock from $107.00 to $71.00 in a research report on Tuesday, July 19th. Finally, US Capital Advisors restated an overweight rating on shares of Denbury in a research report on Tuesday, June 14th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $96.09.

Denbury Price Performance

DEN stock opened at $83.24 on Monday. The company’s 50 day simple moving average is $78.05 and its 200-day simple moving average is $73.70. The firm has a market capitalization of $4.14 billion, a PE ratio of 12.79, a P/E/G ratio of 0.51 and a beta of 3.07. Denbury has a 12 month low of $56.59 and a 12 month high of $93.95.

Denbury (NYSE:DENGet Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.69 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.03). The business had revenue of $482.16 million during the quarter, compared to analyst estimates of $408.55 million. Denbury had a net margin of 22.38% and a return on equity of 23.55%. The firm’s revenue for the quarter was up 60.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. As a group, sell-side analysts anticipate that Denbury will post 6.93 earnings per share for the current year.

Hedge Funds Weigh In On Denbury

Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its holdings in shares of Denbury by 31.8% in the 2nd quarter. Captrust Financial Advisors now owns 527 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Denbury in the 1st quarter valued at $46,000. Meeder Asset Management Inc. acquired a new position in shares of Denbury in the 1st quarter valued at $80,000. CSS LLC IL acquired a new position in shares of Denbury in the 4th quarter valued at $204,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Denbury by 8.0% in the 1st quarter. Mackenzie Financial Corp now owns 3,180 shares of the company’s stock valued at $250,000 after purchasing an additional 235 shares during the last quarter.

About Denbury

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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.

Further Reading

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Analyst Recommendations for Denbury (NYSE:DEN)

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