Denbury Resources Inc. is an independent oil and natural gas company. The Company's operations are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming. It had an estimated proved oil and natural gas reserves of 254.5 million barrels of oil equivalent (MMBOE) as of December 31, 2016. Its primary Gulf Coast carbon dioxide (CO2) source is Jackson Dome, which is located near Jackson, Mississippi. Its mature group of properties includes the initial CO2 field, Little Creek, and other fields, including Brookhaven, Cranfield, Eucutta, Lockhart Crossing, Mallalieu and Soso fields. Its LaBarge Field is located in southwestern Wyoming. Its Riley Ridge Federal Unit is located in southwestern Wyoming and produces gas from the same LaBarge Field.
Industry, Sector and Symbol:
- Sector: Oils/Energy
- Industry: Oil & Gas Exploration and Production - NEC
- Sub-Industry: Oil & Gas Exploration & Production
- Symbol: NYSE:DNR
- CUSIP: 24791620
- Web: www.denbury.com
- Market Cap: $529.58 million
- Outstanding Shares: 389,397,000
- 50 Day Moving Avg: $1.49
- 200 Day Moving Avg: $2.39
- 52 Week Range: $1.27 - $4.29
Sales & Book Value:
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 8.50
- P/E Growth: 0.38
- Annual Revenue: $1.04 billion
- Price / Sales: 0.51
- Book Value: $1.27 per share
- Price / Book: 1.07
- EBIDTA: $287.32 million
- Net Margins: -72.85%
- Return on Equity: 2.49%
- Return on Assets: 0.36%
- Debt-to-Equity Ratio: 5.99%
- Current Ratio: 0.53%
- Quick Ratio: 0.53%
- Average Volume: 6.17 million shs.
- Beta: 3.31
- Short Ratio: 10.94
Frequently Asked Questions for Denbury Resources (NYSE:DNR)
What is Denbury Resources' stock symbol?
Denbury Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "DNR."
How were Denbury Resources' earnings last quarter?
Denbury Resources Inc. (NYSE:DNR) announced its quarterly earnings results on Thursday, May, 4th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by $0.01. The company earned $264 million during the quarter, compared to the consensus estimate of $254.67 million. Denbury Resources had a negative net margin of 72.85% and a positive return on equity of 2.49%. The business's revenue was up 35.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. View Denbury Resources' Earnings History.
Where is Denbury Resources' stock going? Where will Denbury Resources' stock price be in 2017?
7 brokerages have issued 1-year price targets for Denbury Resources' stock. Their forecasts range from $1.00 to $5.00. On average, they expect Denbury Resources' stock price to reach $2.71 in the next twelve months. View Analyst Ratings for Denbury Resources.
What are analysts saying about Denbury Resources stock?
Here are some recent quotes from research analysts about Denbury Resources stock:
- 1. According to Zacks Investment Research, "Denbury’s total proved reserve – majority of which is oil – has been decreasing steadily over the last two years. Since 2014, estimated reserves fell over 40%, which is a matter of concern. Declining reserves raise questions over the company’s production capabilities which might hurt cashflow for shareholders. Moreover, Denbury’s cash balances have been on the decline since 2015, making the current low of $2 million as of Mar 31, 2017. Long-term debt stands at almost $3 billion, signifying weak financials. Also, since the beginning of 2013, there has been a steady decline in cashflow from the company’s core operations. Weak businesses following persistently low oil and natural gas prices have compelled the company to suspend dividend payment since the beginning of the fourth quarter of 2015." (7/18/2017)
- 2. UBS AG analysts commented, "Despite its debt reduction efforts, DNR remains burdened by high cost structure, elevated leverage, & restrictive covenants. At current strip, DNR is back to outspending cash flow and is at risk of breaching covenant in 2018. With net debt/EBITDX at nearly 10x, we expect DNR to dial back capex which would put its modest 2H17 growth trajectory in jeopardy. We are also concerned about the upcoming borrowing base redetermination in May ($301MM of the $1,050MM revolver is utilized) considering reduced production, cash flow, & proved reserve metrics. Over the long run, we see limited path for DNR to organically fix its balance sheet at prices below $65/Bbl & any deleveraging options, in our view, would involve material dilution to equity holders." (3/23/2017)
- 3. KLR Group analysts commented, "Our $5 target price is unchanged following numerous model refinements, including a reduction in our '17/'18 capex assumptions and ~5% higher operating expenses offset by a ~5% improvement in capital productivity and higher oil price realizations. Our target price is anchored on a mid-cycle $80 oil and $4 natural gas price deck. DNR production is ~96% oil (a $10 increase in oil prices would increase EBITDA generation by ~$200 mm) and the company generates an '19 capital yield (cash recycle ratio) of ~140% vs. the group median of ~145%." (3/15/2017)
Are investors shorting Denbury Resources?
Denbury Resources saw a increase in short interest in June. As of June 30th, there was short interest totalling 78,691,256 shares, an increase of 15.0% from the June 15th total of 68,448,366 shares. Based on an average daily trading volume, of 8,110,490 shares, the days-to-cover ratio is currently 9.7 days. Currently, 20.0% of the company's stock are sold short.
Who are some of Denbury Resources' key competitors?
Some companies that are related to Denbury Resources include Carrizo Oil & Gas (CRZO), Cairn Energy PLC (CNE), Unit Corporation (UNT), EP Energy Corporation (EPE), Eclipse Resources Corporation (ECR), Energy XXI Gulf Coast (EXXI), Baytex Energy Corp (BTE), Ophir Energy Plc (OPHR), Sanchez Energy Corporation (SN), Andes Energia PLC (AEN), Pengrowth Energy Corporation (PGH), SOCO International plc (SIA), Hurricane Energy PLC (HUR), Enquest Plc (ENQ), California Resources Corporation (CRC), Sound Energy PLC (SOU), Premier Oil PLC (PMO) and Genel Energy PLC (GENL).
Who are Denbury Resources' key executives?
Denbury Resources' management team includes the folowing people:
- John P. Dielwart, Independent Chairman of the Board
- Christian S. Kendall, President, Chief Executive Officer and Chief Operating Officer
- Mark C. Allen, Chief Financial Officer, Senior Vice President, Treasurer, Assistant Secretary
- James S. Matthews, Senior Vice President, General Counsel, Secretary
- Alan Rhoades, Vice President, Chief Accounting Officer
- Steve McLaurin, Vice President, Chief Information Officer
- Dan E. Cole, Vice President – Commercial Development and Governmental Relations
- Matthew Dahan, Vice President – North Region Production Operations
- John Filiatrault, Vice President - CO2 Supply & Pipeline
- David Sheppard, Vice President - Wells, Projects and Gulf Coast Operations
Who owns Denbury Resources stock?
Denbury Resources' stock is owned by many different of institutional and retail investors. Top institutional investors include Bank of Montreal Can (0.23%), Aperio Group LLC (0.06%), Creative Planning (0.04%), Louisiana State Employees Retirement System (0.04%), State of Alaska Department of Revenue (0.02%) and Capstone Asset Management Co. (0.02%). View Institutional Ownership Trends for Denbury Resources.
Who sold Denbury Resources stock? Who is selling Denbury Resources stock?
Who bought Denbury Resources stock? Who is buying Denbury Resources stock?
How do I buy Denbury Resources stock?
Shares of Denbury Resources can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Denbury Resources' stock price today?
MarketBeat Community Rating for Denbury Resources (NYSE DNR)MarketBeat's community ratings are surveys of what our community members think about Denbury Resources and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Denbury Resources stock can currently be purchased for approximately $1.36.
Consensus Ratings for Denbury Resources (NYSE:DNR) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||3 Sell Ratings, 3 Hold Ratings, 1 Buy Rating|
|Consensus Rating:||Hold (Score: 1.71)|
|Consensus Price Target: ||$2.71 (99.58% upside)|
Analysts' Ratings History for Denbury Resources (NYSE:DNR)
(Data available from 7/23/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|7/14/2017||Stifel Nicolaus||Reiterated Rating||Hold||$2.50||Medium|
|7/14/2017||BMO Capital Markets||Lower Price Target||No Rating at Time||$2.00 -> $1.00||Low|
|6/2/2017||Credit Suisse Group||Reiterated Rating||Underperform||$2.00||Low|
|3/15/2017||KLR Group||Reiterated Rating||Buy||$5.00||Medium|
|10/18/2016||Johnson Rice||Reiterated Rating||Hold||N/A|
|8/10/2016||Barclays PLC||Downgrade||Equal Weight -> Underweight||$3.00 -> $2.50||N/A|
|4/26/2016||KeyCorp||Initiated Coverage||Overweight -> Sector Weight||N/A|
|2/22/2016||Royal Bank Of Canada||Lower Price Target||Sector Perform||$2.50 -> $1.50||N/A|
|1/11/2016||Cowen and Company||Upgrade||Underperform -> Market Perform||$2.00||N/A|
|10/21/2015||SunTrust Banks, Inc.||Lower Price Target||Neutral||$8.00 -> $4.00||N/A|
Earnings History for Denbury Resources (NYSE:DNR)Earnings History by Quarter for Denbury Resources (NYSE DNR)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|5/4/2017||Q1 2017||($0.01)||($0.02)||$254.67 million||$264.00 million||View||Listen|
|2/23/2017||Q416||($0.03)||($0.02)||$236.02 million||$271.62 million||View||N/A|
|8/4/2016||Q216||$0.02||$0.08||$285.70 million||$255.15 million||View||N/A|
|5/5/2016||Q116||($0.07)||($0.03)||$274.69 million||$194.80 million||View||N/A|
|2/18/2016||Q415||$0.01||($0.01)||$335.38 million||$269.60 million||View||Listen|
|11/5/2015||Q315||$0.14||$0.18||$387.23 million||$303.60 million||View||N/A|
|8/5/2015||Q215||$0.11||$0.13||$464.45 million||$374.00 million||View||N/A|
|5/6/2015||Q115||$0.07||$0.07||$440.40 million||$304.00 million||View||N/A|
|2/19/2015||Q414||$0.23||$0.27||$565.73 million||$480.00 million||View||N/A|
|11/5/2014||Q314||$0.26||$0.26||$627.90 million||$637.66 million||View||Listen|
|8/6/2014||Q2||$0.27||$0.26||$628.06 million||$669.00 million||View||Listen|
|5/6/2014||Q114||$0.25||$0.25||$605.54 million||$635.00 million||View||Listen|
|2/20/2014||Q413||$0.31||$0.27||$617.02 million||$596.00 million||View||Listen|
|11/5/2013||Q313||$0.39||$0.45||$646.70 million||$674.00 million||View||Listen|
|8/6/2013||Q2 2013||$0.34||$0.41||$637.51 million||$645.00 million||View||Listen|
|5/2/2013||Q1 2013||$0.29||$0.33||$532.14 million||$583.10 million||View||Listen|
|2/21/2013||Q4 2012||$0.29||$0.36||$573.80 million||$609.20 million||View||Listen|
|11/6/2012||Q312||$0.32||$0.33||$612.42 million||$600.40 million||View||N/A|
Earnings Estimates for Denbury Resources (NYSE:DNR)
2017 EPS Consensus Estimate: $0.12
2018 EPS Consensus Estimate: $0.47
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Denbury Resources (NYSE:DNR)
|Most Recent Dividend:||9/29/2015|
|Dividend Growth:||0.00% (3 Year Average)|
|Payout Ratio:||0.00% (Trailing 12 Months of Earnings) |
0.00% (Based on This Year's Estimates)
0.00% (Based on Next Year's Estimates)
Dividend History by Quarter for Denbury Resources (NYSE DNR)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Denbury Resources (NYSE:DNR)
Insider Ownership Percentage: 1.20%Insider Trades by Quarter for Denbury Resources (NYSE:DNR)
Institutional Ownership Percentage: 91.11%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|3/27/2017||Greg Mcmichael||Director||Sell||16,000||$2.23||$35,680.00|| |
|8/15/2016||Greg Mcmichael||Director||Sell||10,000||$3.13||$31,300.00|| |
|9/12/2014||James S Matthews||SVP||Sell||6,000||$15.99||$95,940.00|| |
|6/30/2014||Ronald G Greene||Director||Sell||50,000||$18.45||$922,500.00|| |
|6/27/2014||Ronald G Greene||Director||Sell||25,000||$18.50||$462,500.00|| |
|6/25/2014||Ronald G Greene||Director||Sell||75,000||$18.33||$1,374,750.00|| |
|6/20/2014||Greg Mcmichael||Director||Sell||12,000||$18.37||$220,440.00|| |
|6/16/2014||Mark C Allen||CFO||Sell||25,708||$17.95||$461,458.60|| |
|5/30/2014||Alan Rhoades||CAO||Sell||10,000||$16.88||$168,800.00|| |
|5/21/2014||James Matthews||VP||Sell||5,000||$16.80||$84,000.00|| |
|5/12/2014||Charles Gibson||SVP||Sell||15,000||$17.11||$256,650.00|| |
|3/24/2014||James Matthews||VP||Sell||2,000||$16.20||$32,400.00|| |
|8/8/2013||James Matthews||VP||Sell||6,291||$17.22||$108,331.02|| |
|3/22/2013||Ronald G Greene||Director||Sell||20,000||$18.63||$372,600.00|| |
|12/31/2012||Kenneth Craig Mcpherson||COO||Buy||1,222||$16.12||$19,698.64|| |
|12/31/2012||Mark C Allen||CFO||Buy||1,149||$16.12||$18,521.88|| |
|12/31/2012||Phil Rykhoek||CEO||Buy||1,694||$16.12||$27,307.28|| |
Headline Trends for Denbury Resources (NYSE:DNR)
Latest Headlines for Denbury Resources (NYSE:DNR)
Denbury Resources (DNR) Chart for Sunday, July, 23, 2017