FY2024 Earnings Forecast for Denbury Inc. Issued By Jefferies Financial Group (NYSE:DEN)

Denbury Inc. (NYSE:DEN – Get Rating) – Investment analysts at Jefferies Financial Group dropped their FY2024 earnings estimates for Denbury in a report released on Tuesday, January 17th. Jefferies Financial Group analyst S. Burwell now expects that the company will post earnings per share of $7.81 for the year, down from their previous forecast of $8.27. Jefferies Financial Group currently has a “Buy” rating and a $115.00 price objective on the stock. The consensus estimate for Denbury’s current full-year earnings is $6.99 per share.

Denbury (NYSE:DEN – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.73 by $0.17. Denbury had a net margin of 31.01% and a return on equity of 26.43%. The company had revenue of $439.49 million during the quarter, compared to analysts’ expectations of $402.14 million.

DEN has been the subject of several other reports. Stifel Nicolaus began coverage on shares of Denbury in a report on Wednesday, October 19th. They set a “buy” rating and a $146.00 price target for the company. Roth Capital upgraded shares of Denbury from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $108.00 in a report on Tuesday, November 22nd. Citigroup raised their price target on shares of Denbury from $81.00 to $112.00 in a report on Wednesday, December 7th. Finally, Bank of America began coverage on shares of Denbury in a report on Thursday, December 15th. They set an “underperform” rating and a $73.00 price target for the company. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $104.43.

Denbury Stock Performance

Shares of DEN opened at $89.39 on Thursday. Denbury has a one year low of $56.59 and a one year high of $104.05. The company has a 50-day moving average of $87.44 and a two-hundred day moving average of $83.95. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 9.10 and a beta of 2.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.65 and a quick ratio of 0.65.

Hedge Funds Weigh In On Denbury

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEN. Goldman Sachs Group Inc. raised its position in Denbury by 553.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,832,374 shares of the company’s stock valued at $143,969,000 after acquiring an additional 1,551,925 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Denbury by 262.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 853,500 shares of the company’s stock valued at $73,623,000 after acquiring an additional 618,200 shares in the last quarter. Rubric Capital Management LP bought a new position in shares of Denbury in the third quarter valued at approximately $48,202,000. Aristeia Capital LLC raised its position in shares of Denbury by 74.6% in the second quarter. Aristeia Capital LLC now owns 1,302,574 shares of the company’s stock valued at $78,141,000 after purchasing an additional 556,348 shares during the period. Finally, Brown Advisory Inc. bought a new position in shares of Denbury in the third quarter valued at approximately $47,611,000.

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.