Denbury Inc. (NYSE: DEN – Get a rating) – Capital One Financial investment analysts lowered their FY2022 EPS estimates for Denbury shares in a research note released Thursday, February 24. Capital One Financial analyst R. Tullis now expects the company to earn $6.25 per share for the year, down from his previous forecast of $6.27. Capital One Financial also released Denbury’s fourth quarter 2022 earnings estimates at $1.71 EPS.
A number of other brokerages have also published DEN reports. Zacks Investment Research upgraded Denbury from a “hold” rating to a “strong-buy” rating and set a price target of $85.00 for the company in a Monday, February 7 report. Tudor Pickering began covering Denbury in a report on Tuesday November 23. They issued a “buy” rating and a price target of $109.00 for the company. Wolfe Research began covering Denbury in a report on Tuesday December 14. They issued an “outperform” rating and a price target of $117.00 for the company. Tudor, Pickering, Holt & Co. began covering Denbury in a report on Tuesday November 23. They issued a “buy” rating for the company. Finally, Roth Capital upgraded Denbury from a “neutral” rating to a “buy” rating and raised its price target for the company from $78.75 to $87.75 in a Friday, February 18 report. One research analyst gave the stock a hold rating, eight gave the stock a buy rating and one gave the stock a high buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $97.42.
Shares of NYSE DEN opened at $70.77 on Monday. The stock has a market capitalization of $3.55 billion, a price-earnings ratio of 88.46 and a beta of 3.42. The company has a 50-day moving average price of $72.92. Denbury has a 52-week low of $38.03 and a 52-week high of $91.30. Denbury (NYSE:DEN- Get a rating) last announced its results on Thursday, February 24. The company reported earnings per share (EPS) of $0.76 for the quarter, beating Thomson Reuters consensus estimate of $0.71 by $0.05. Denbury had a return on equity of 14.04% and a net margin of 4.45%. The company posted revenue of $361.90 million in the quarter, versus analyst estimates of $299.44 million. In the same quarter a year earlier, the company earned $0.58 per share.
Hedge funds have recently changed their holdings in the company. Dark Forest Capital Management LP increased its position in Denbury shares by 885.2% during the third quarter. Dark Forest Capital Management LP now owns 601 shares of the company worth $42,000 after purchasing an additional 540 shares in the last quarter. CWM LLC purchased a new equity stake in Denbury during the fourth quarter for $66,000. Ellevest Inc. purchased a new stake in Denbury stock during the third quarter for $69,000. CSS LLC IL purchased a new stake in Denbury stock during the fourth quarter for $204,000. Finally, Walleye Trading LLC purchased a new equity stake in Denbury during the second quarter for $217,000. 99.73% of the shares are currently held by institutional investors and hedge funds.
About Denbury (Get a rating)
Denbury Inc, an independent energy company, is focused on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The Company holds interests in various oil and 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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