Brokers Set Expectations for Denbury Inc.’s FY2022 Earnings (NYSE:DEN)
Denbury Inc. (NYSE:DEN – Get Rating) – Investment analysts at US Capital Advisors issued their FY2022 earnings per share estimates for shares of Denbury in a research note issued to investors on Tuesday, June 14th. US Capital Advisors analyst P. Graf expects that the company will earn $9.77 per share for the year. US Capital Advisors currently has a “Overweight” rating on the stock. The consensus estimate for Denbury’s current full-year earnings is $7.51 per share. US Capital Advisors also issued estimates for Denbury’s FY2023 earnings at $13.65 EPS, FY2024 earnings at $11.49 EPS, FY2025 earnings at $9.30 EPS and FY2026 earnings at $8.20 EPS.
Denbury (NYSE:DEN – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.57 by $0.12. Denbury had a net margin of 8.79% and a return on equity of 19.79%. The business had revenue of $411.80 million for the quarter, compared to the consensus estimate of $374.55 million. During the same period last year, the company earned $0.44 EPS. The firm’s revenue was up 63.5% compared to the same quarter last year.
Several other analysts also recently commented on DEN. Roth Capital raised shares of Denbury from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $78.75 to $87.75 in a research report on Friday, February 18th. Stifel Nicolaus lifted their target price on Denbury from $126.00 to $129.00 in a research report on Thursday, May 5th. Finally, Citigroup began coverage on shares of Denbury in a research report on Tuesday, May 10th. They set a “buy” rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $101.34.
Shares of DEN opened at $71.47 on Thursday. The business has a 50-day moving average of $71.99 and a 200-day moving average of $73.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.46. Denbury has a 1 year low of $60.45 and a 1 year high of $91.30. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 33.09 and a beta of 3.33.
A number of hedge funds have recently added to or reduced their stakes in DEN. Silver Point Capital L.P. lifted its stake in Denbury by 18.6% during the first quarter. Silver Point Capital L.P. now owns 4,530,000 shares of the company’s stock worth $355,922,000 after purchasing an additional 710,200 shares during the last quarter. BlackRock Inc. lifted its position in Denbury by 2.0% in the 1st quarter. BlackRock Inc. now owns 3,401,112 shares of the company’s stock worth $267,227,000 after buying an additional 65,352 shares during the last quarter. State Street Corp boosted its stake in Denbury by 23.6% in the first quarter. State Street Corp now owns 2,306,974 shares of the company’s stock worth $181,259,000 after buying an additional 440,841 shares in the last quarter. Goldman Sachs Group Inc. grew 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 during the last quarter. Finally, Discovery Capital Management LLC CT lifted its holdings in shares of Denbury by 43.4% in the 4th quarter. Discovery Capital Management LLC CT now owns 1,400,283 shares of the company’s stock worth $107,248,000 after acquiring an additional 423,864 shares during the last quarter.
Denbury Company Profile (Get Rating)
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.
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