Roth Capital Upgrades Denbury (NYSE:DEN) to Buy

Denbury (NYSE:DENGet Rating) was upgraded by stock analysts at Roth Capital from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has a $108.00 price target on the stock, up from their previous price target of $103.00. Roth Capital’s price objective suggests a potential upside of 21.57% from the stock’s current price.

A number of other research analysts have also commented on DEN. Jefferies Financial Group initiated coverage on Denbury in a report on Wednesday, October 19th. They set a “buy” rating and a $115.00 price objective on the stock. TheStreet raised Denbury from a “c” rating to a “b-” rating in a report on Monday, September 19th. KeyCorp started coverage on Denbury in a report on Monday, September 19th. They set an “overweight” rating and a $102.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on Denbury in a report on Wednesday, October 19th. They issued a “buy” rating and a $146.00 target price on the stock. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.13.

Denbury Stock Down 6.2 %

Shares of Denbury stock opened at $88.84 on Tuesday. The stock has a 50-day moving average price of $90.61 and a 200 day moving average price of $79.26. The company has a market cap of $4.42 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.67 and a beta of 2.82. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01. Denbury has a 1 year low of $56.59 and a 1 year high of $104.05.

Denbury (NYSE:DENGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.17. Denbury had a return on equity of 26.43% and a net margin of 31.01%. The company had revenue of $439.49 million during the quarter, compared to the consensus estimate of $402.14 million. As a group, analysts expect that Denbury will post 6.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Denbury

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in Denbury by 553.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,832,374 shares of the company’s stock valued at $143,969,000 after purchasing an additional 1,551,925 shares during the last quarter. Silver Point Capital L.P. raised its position in Denbury by 18.6% in the 1st quarter. Silver Point Capital L.P. now owns 4,530,000 shares of the company’s stock valued at $355,922,000 after purchasing an additional 710,200 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Denbury by 262.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 853,500 shares of the company’s stock valued at $73,623,000 after purchasing an additional 618,200 shares during the last quarter. Rubric Capital Management LP bought a new position in Denbury in the 3rd quarter valued at $48,202,000. Finally, Aristeia Capital LLC increased its stake in shares of Denbury by 74.6% in the 2nd quarter. Aristeia Capital LLC now owns 1,302,574 shares of the company’s stock valued at $78,141,000 after buying an additional 556,348 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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Analyst Recommendations for Denbury (NYSE:DEN)

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