Denbury Inc. (NYSE:DEN – Free Report) – Analysts at Capital One Financial lifted their Q3 2023 earnings estimates for shares of Denbury in a report released on Tuesday, October 3rd. Capital One Financial analyst B. Velie now forecasts that the company will post earnings per share of $1.57 for the quarter, up from their prior forecast of $1.48. Capital One Financial currently has a “Equal Weight” rating on the stock. The consensus estimate for Denbury’s current full-year earnings is $5.43 per share. Capital One Financial also issued estimates for Denbury’s Q4 2023 earnings at $1.73 EPS and FY2025 earnings at $6.43 EPS.
Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of Denbury in a report on Thursday, June 15th. They issued a “neutral” rating and a $96.00 price target for the company. Stifel Nicolaus boosted their target price on shares of Denbury from $86.00 to $93.00 and gave the company a “hold” rating in a research note on Friday, August 11th. Jefferies Financial Group downgraded Denbury from a “buy” rating to a “hold” rating and set a $91.00 price objective for the company. in a research report on Monday, August 28th. Finally, Johnson Rice downgraded Denbury from an “accumulate” rating to a “hold” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.50.
Denbury Price Performance
Shares of DEN opened at $91.30 on Thursday. Denbury has a 52 week low of $75.33 and a 52 week high of $104.05. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 10.19 and a beta of 2.53. The stock has a 50 day moving average of $92.69 and a 200-day moving average of $90.15.
Denbury (NYSE:DEN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.17). The business had revenue of $328.98 million during the quarter, compared to analysts’ expectations of $345.83 million. Denbury had a net margin of 32.34% and a return on equity of 19.82%. The company’s revenue for the quarter was down 31.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.69 EPS.
Institutional Trading of Denbury
Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in shares of 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 acquiring an additional 1,551,925 shares in the last quarter. Third Point LLC raised its position in shares of Denbury by 570.0% during the second quarter. Third Point LLC now owns 1,675,000 shares of the company’s stock valued at $144,486,000 after buying an additional 1,425,000 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Denbury in the fourth quarter valued at $64,464,000. Palo Duro Investment Partners LP bought a new position in Denbury in the first quarter worth $57,395,000. Finally, Brown Advisory Inc. boosted its stake in Denbury by 112.4% during the fourth quarter. Brown Advisory Inc. now owns 1,172,395 shares of the company’s stock worth $102,022,000 after buying an additional 620,450 shares in the last quarter.
Denbury Company Profile
Denbury Inc operates as an independent energy company in the Gulf Coast and Rocky Mountain regions. It 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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