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Median Price Target from Wall Street Indicates Upside for Denbury Resources

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Aug. 18 2020, Updated 9:30 a.m. ET

Wall Street analysts ratings for Denbury Resources

Currently, ~11% of Wall Street analysts rate Denbury Resources (DNR) as a “buy” and ~61% of analysts rate it as a “hold.” Around 28% rate the stock as a “sell.” The median price target from these recommendations is $3.33, which is ~10% higher than the August 5, 2016, closing price of $3.02.

The table below shows the Wall Street analysts’ individual forecasts for Denbury Resources following its 2Q16 earnings release.

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Other upstream players

Based on the median price targets of recommendations from Wall Street analysts, upstream companies Carrizo Oil & Gas (CRZO), QEP Resources (QEP), and EP Energy (EPE) have potential upsides of ~26%, ~33%, and ~32%, respectively, from their August 5 closing prices.

The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies, whereas the Vanguard Energy ETF (VDE) invests in the broader energy market.

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