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What Are the Odds of Denbury Resources Beating Its 3Q16 Earnings?

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Denbury Resources’s earnings trend

In 2Q16, excluding the one-time items, Denbury Resources (DNR) reported a profit of $0.08 per share, $0.06 better than consensus for profit of $0.02 per share. Its revenues fell ~39% year-over-year to ~$305 million.

As seen in the above chart, Denbury Resources reported much lower earnings in 2015 due to lower realized crude oil (USO) (UWTI) (DWTI) and natural gas (UNG) (BOIL) prices. In 4Q15, Denbury Resources saw its adjusted earnings turn negative for the first time since 1999.

Since 2013, Denbury Resources has beaten the earnings expectations ~57% of the time.

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Other upstream players

Since 2013, upstream players Devon Energy (DVN), Pioneer Natural Resources (PXD), and Range Resources (RRC) have beat earnings expectations ~79%, ~71%, and ~64% of the times, respectively.

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