Denbury (NYSE:DEN) Stock Price Down 7.8%

Denbury Inc. (NYSE:DENGet Rating)’s stock price fell 7.8% on Friday . The company traded as low as $61.64 and last traded at $61.70. 19,760 shares were traded during trading, a decline of 96% from the average session volume of 491,332 shares. The stock had previously closed at $66.93.

DEN has been the subject of several research reports. Stifel Nicolaus boosted their price objective on shares of Denbury from $126.00 to $129.00 in a research note on Thursday, May 5th. Citigroup assumed coverage on Denbury in a report on Tuesday, May 10th. They set a “buy” rating and a $83.00 target price for the company. Roth Capital upgraded shares of Denbury from a “neutral” rating to a “buy” rating and raised their price target for the company from $78.75 to $87.75 in a report on Friday, February 18th. Finally, US Capital Advisors reiterated an “overweight” rating on shares of Denbury in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $101.34.

The business’s fifty day simple moving average is $71.77 and its 200 day simple moving average is $73.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 30.99 and a beta of 3.33.

Denbury (NYSE:DENGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.12. Denbury had a return on equity of 19.79% and a net margin of 8.79%. The firm had revenue of $411.80 million during the quarter, compared to analyst estimates of $374.55 million. During the same quarter last year, the firm earned $0.44 EPS. Denbury’s quarterly revenue was up 63.5% on a year-over-year basis. As a group, analysts forecast that Denbury Inc. will post 7.96 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Morgan Stanley raised its position in shares of Denbury by 227.5% during the 2nd quarter. Morgan Stanley now owns 692,403 shares of the company’s stock valued at $53,162,000 after acquiring an additional 480,971 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Denbury by 164.2% during the third quarter. Franklin Resources Inc. now owns 8,045 shares of the company’s stock valued at $565,000 after purchasing an additional 5,000 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Denbury by 54.0% during the third quarter. Dimensional Fund Advisors LP now owns 663,009 shares of the company’s stock valued at $46,578,000 after purchasing an additional 232,492 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in Denbury by 885.2% in 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. Finally, Invesco Ltd. grew its position in Denbury by 4.8% in the 3rd quarter. Invesco Ltd. now owns 704,866 shares of the company’s stock valued at $49,517,000 after buying an additional 31,984 shares in the last quarter.

About Denbury (NYSE:DEN)

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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