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Key Takeaways from Denbury Resources’ 2Q17 Earnings

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Part 4
Key Takeaways from Denbury Resources’ 2Q17 Earnings PART 4 OF 6

Denbury Resources: Post-Earnings Wall Street Ratings

Recommendations

On August 9, 2017, ~63.6% of the 11 analysts covering Denbury Resources (DNR) gave “hold” recommendations on its stock. Of these analysts, one analyst gave a “strong buy” recommendation, seven analysts gave “hold” recommendations, and three analysts gave “sell” recommendations on the stock. There were no “buy” or “strong sell” recommendations on DNR stock.

Denbury Resources: Post-Earnings Wall Street Ratings

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Target price

These Wall Street analyst recommendations have a median target price of $2.00, which is ~37% higher than its August 9, 2017, closing price of $1.46. The mean target price for DNR stock from these recommendations is $1.86, which is lower than its median target price.

Recommendation changes

In the last one-month period, the number of analysts’ “sell” recommendations for Denbury Resources fell from five to three. The recommendations with “strong buy,” “buy,” “hold,” and “strong sell” ratings remained unchanged.

In the last one-month period, Denbury Resources’ median target price remained unchanged. However, its mean target price fell from $2.34 to $1.86.

Other upstream companies

Based on the mean price targets of recommendations from Wall Street analysts, upstream companies EOG Resources (EOG) and Energen (EGN) have potential upsides of ~16% and ~26%, respectively, from their August 9 closing prices.

Occidental Petroleum (OXY) has a potential upside of ~6%. Like DNR, Occidental Petroleum also operates in the EOR (enhanced oil recovery) space. Energen and EOG Resources have operations in the Permian Basin.

The Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares ETF (DRIP) is a leveraged inverse ETF that invests in oil and gas exploration and production companies. The ISE-Revere Natural Gas Index ETF (FCG) invests in natural gas producers.

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