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
- Sub-Industry: Oil & Gas Exploration & Production
- Symbol: NYSE:DNR
- CUSIP: 24791620
- Web: www.denbury.com
- Market Cap: $467.88 million
- Outstanding Shares: 389,903,000
- 50 Day Moving Avg: $1.20
- 200 Day Moving Avg: $1.72
- 52 Week Range: $0.91 - $4.29
Sales & Book Value:
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 13.33
- P/E Growth: 0.64
- Annual Revenue: $1.04 billion
- Price / Sales: 0.45
- Book Value: $1.32 per share
- Price / Book: 0.91
- EBIDTA: $384.51 million
- Net Margins: -35.24%
- Return on Equity: -1.94%
- Return on Assets: -0.25%
- Debt-to-Equity Ratio: 5.95%
- Current Ratio: 0.57%
- Quick Ratio: 0.57%
- Average Volume: 6.39 million shs.
- Beta: 3.34
- 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) released its quarterly earnings data on Tuesday, August, 8th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.02. The company earned $261.20 million during the quarter, compared to analysts' expectations of $248.66 million. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. View Denbury Resources' Earnings History.
When will Denbury Resources make its next earnings announcement?
Where is Denbury Resources' stock going? Where will Denbury Resources' stock price be in 2017?
9 equities research analysts have issued 1-year price targets for Denbury Resources' shares. Their forecasts range from $1.00 to $5.00. On average, they expect Denbury Resources' share price to reach $2.43 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 Resources executed several capital projects which drove it’s stronger than expected second-quarter results. Denbury acquired 23% non-operated working interest in Salt Creek Field in Wyoming from Linn Energy. With its unique profile, compelling economics and unmatched infrastructure, Denbury is well positioned to deliver long-term sustainable growth. We appreciate the company’s cost-reduction initiatives and it has also raised its guidance for 2017 production. Moreover, Denbury’s niche, highly specialized strategy to increase oil recovery from mature depleted oil fields through tertiary CO2 flooding will help it grow in the future. However, Denbury Resources’ price has underperformed the broader market indices, over the last three months. We are also concerned with the high debt load of Denbury as reflected that the upstream player’s debt to equity ratio is significantly higher than the broader industry." (8/14/2017)
- 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 during the month of August. As of August 31st, there was short interest totalling 75,615,420 shares, an increase of 2.9% from the August 15th total of 73,516,289 shares. Based on an average daily trading volume, of 6,955,906 shares, the short-interest ratio is presently 10.9 days. Approximately 19.1% of the shares of the company are short sold.
Who are some of Denbury Resources' key competitors?
Some companies that are related to Denbury Resources include EP Energy Corporation (EPE), Baytex Energy Corp (BTE), Eclipse Resources Corporation (ECR), Ophir Energy Plc (OPHR), Pengrowth Energy Corporation (PGH), Genel Energy PLC (GENL), California Resources Corporation (CRC), SOCO International plc (SIA), Sanchez Energy Corporation (SN), San Juan Basin Royalty Trust (SJT), W&T Offshore (WTI), Faroe Petroleum plc (FPM), Energy XXI Gulf Coast (EXXI), Hurricane Energy PLC (HUR), Sound Energy PLC (SOU), Premier Oil PLC (PMO), Bill Barrett Corporation (BBG) and Abraxas Petroleum Corporation (AXAS).
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 Vanguard Group Inc. (13.90%), Capital Research Global Investors (8.70%), State Street Corp (5.60%), FMR LLC (4.45%), JPMorgan Chase & Co. (3.11%) and Dimensional Fund Advisors LP (2.59%). View Institutional Ownership Trends for Denbury Resources.
Who sold Denbury Resources stock? Who is selling Denbury Resources stock?
Denbury Resources' stock was sold by a variety of institutional investors in the last quarter, including Vanguard Group Inc., Goldman Sachs Group Inc., Sprucegrove Investment Management Ltd., Marshall Wace North America L.P., Menta Capital LLC, Janus Henderson Group PLC, Capital Research Global Investors and Ameriprise Financial Inc.. View Insider Buying and Selling for Denbury Resources.
Who bought Denbury Resources stock? Who is buying Denbury Resources stock?
Denbury Resources' stock was purchased by a variety of institutional investors in the last quarter, including Schwab Charles Investment Management Inc., JPMorgan Chase & Co., Dimensional Fund Advisors LP, Cubist Systematic Strategies LLC, Nationwide Fund Advisors, State Street Corp, Northern Trust Corp and Federated Investors Inc. PA. View Insider Buying and Selling for Denbury Resources.
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 $1.20.
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: ||2 Sell Ratings, 6 Hold Ratings, 1 Buy Rating|
|Consensus Rating:||Hold (Score: 1.89)|
|Consensus Price Target: ||$2.43 (102.38% upside)|
Analysts' Ratings History for Denbury Resources (NYSE:DNR)
(Data available from 9/22/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|9/1/2017||BMO Capital Markets||Reiterated Rating||Hold||$1.00||N/A|
|8/25/2017||Royal Bank Of Canada||Set Price Target||Hold||$2.00||Low|
|8/18/2017||Stifel Nicolaus||Set Price Target||Hold -> Hold||$2.50 -> $1.00||High|
|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|
|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|
|8/8/2017||Q2 2017||($0.02)||$0.00||$248.66 million||$261.20 million||View||Listen|
|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: $0.03
2018 EPS Consensus Estimate: $0.12
(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: 86.44%
(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 Friday, September, 22, 2017