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DNR Is Trading above Its Median and Mean Target Prices

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Jan. 18 2017, Updated 7:37 a.m. ET

Wall Street analysts’ ratings for Denbury Resources

Currently, ~7% of Wall Street analysts rate Denbury Resources (DNR) as a “strong buy,” and ~57% rate it as a “hold.” There are no “buy” ratings on the stock.

On the bearish side, ~36% of analysts rate DNR as a “sell.” There are no “strong sell” ratings on the stock.

In the last month, the number of analysts giving DNR “hold” recommendations has fallen from nine to eight, whereas the number of analysts giving DNR all other ratings has remained the same.

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Target prices

Analysts’ median target price for Denbury Resources is $3.25, ~14% lower than its January 13, 2017, closing price of $3.80. In the last month, Denbury Resources’ median target price has risen from $3.00 to $3.25.

Analysts’ mean target price for Denbury Resources is $3.33, slightly higher than DNR’s median target price, but still ~12% lower than its January 13, 2017, closing price of $3.80. In the last month, Denbury Resources’ mean target price has risen from $3.21 to $3.33.

Other upstream players

Based on the median price targets of recommendations from Wall Street analysts, other upstream companies Carrizo Oil & Gas (CRZO), Gulfport Energy (GPOR), and Parsley Energy (PE) have potential upsides of ~29%, ~68%, and ~18%, respectively, from their January 13, 2017, closing prices.

The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies, whereas the Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies.

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