Denbury Resources (DNR) : The consensus price target for Denbury Resources (DNR) is $3 for the short term with a standard deviation of $1.06. The most optimist securities analyst among the 5 who monitor the stock believes that the stock can reach $4, however, the pessimist price target for the company is $2.
Denbury Resources (DNR) : Zacks Investment Research ranks Denbury Resources (DNR) as 3, which is a Hold recommendation. 2 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 7 research analysts is 3.57, which indicates as a Sell.
Also, Barclays downgrades their rating on the shares of Denbury Resources (NYSE:DNR). The current rating of the shares is Underweight. Earlier, the shares were rated a Equal-weight by the brokerage firm. Equity Analysts at the Firm lowers the price target to $2.5 per share from $3 per share. The rating by the firm was issued on August 10, 2016.
Denbury Resources (NYSE:DNR): The stock opened at $3.00 on Thursday but the bulls could not build on the opening and the stock topped out at $3.10 for the day. The stock traded down to $2.86 during the day, due to lack of any buying support eventually closed down at $2.89 with a loss of -6.17% for the day. The stock had closed at $3.08 on the previous day. The total traded volume was 12,844,940 shares.
Denbury Resources Inc. is an independent oil and natural gas company. The Companys operations are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. The Companys 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. The Companys primary Gulf Coast CO2 source is Jackson Dome. The Companys mature group of properties includes the initial CO2 field, Little Creek, as well as several other fields, including Brookhaven, Cranfield, Eucutta, Lockhart Crossing, Mallalieu, Martinville, McComb and Soso fields. The Company also holds interest in the 183-mile NEJD CO2 pipeline that runs from Jackson Dome to near Donaldsonville, Louisiana.