Wall Street ratings for Denbury Resources
Currently, ~11% of Wall Street analysts rate Denbury Resources (DNR) as a “buy,” ~56% of analysts rate it as a “hold,” and ~33% rate the stock as a “sell.” The median price target from these recommendations is $3.27, which is ~18% higher than the October 24, 2016, closing price of $2.78.
Denbury Resources’s individual recommendations
As shown in the above table, the most recent recommendation of “equalweight” comes from Capital One Securities, which was issued on October 20, 2016. Capital One Securities assigned Denbury Resources the target price of $4.00, which is ~44% higher than the October 24, 2016, closing price of $2.78. Capital One Securities expects the target price to reach within the next 12 months from the date of recommendation.
KLR Group assigned Denbury Resources the highest target price of $5.00, which is ~80% higher than the October 24, 2016, closing price of $2.78. KLR Group issued its Denbury Resources recommendation on October 18 and did not mention any target date for the target price.
Other upstream players
Based on the median price targets of recommendations from Wall Street analysts, upstream companies SM Energy (SM), Antero Resources (AR), and QEP Resources (QEP) have potential upsides of ~29%, ~30%, and ~40%, respectively, from their October 24, 2016, closing prices.
The Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies. The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.