How Denbury Resources Stock Reacted to 1Q18 Earnings



Denbury Resources’ 1Q18 earnings

Denbury Resources announced its 1Q18 earnings on May 8 before the market opened. In 1Q18, Denbury Resources reported revenues of ~$353 million, much better than the Wall Street analyst consensus of ~$316 million. In 1Q18, DNR reported an adjusted profit of $0.12 per share, beating the Wall Street analyst consensus for a profit of $0.11 per share. To know more about DNR’s net income and revenues refer to part one and two of this series.

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Stock reaction to 1Q18 earnings

In reaction to the 1Q18 earnings, DNR stock saw losses of as much as ~10% on May 8. However, as the day progressed, DNR’s stock recovered and closed the day with a loss of ~1%. Currently, DNR is trading ~11% higher than its pre-earnings close.

DNR’s year-to-date performance

Year-to-date in 2018, DNR is among the top-performing upstream companies with a ~71% return. DNR is even broadly outperforming the SPDR S&P Oil and Gas Exploration & Production ETF (XOP), which represents an index of stocks across the energy industry. XOP has ~78% exposure to the oil and gas exploration and production industry. XOP is up ~12% in 2018. To know more about best and worst upstream stock performers in 2018, check out Market Realist’s series, 2018’s Best- and Worst-Performing Upstream Energy Stocks.


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