Stifel Says That It is Time To Finally Downgrade Denbury Resources (NYSE:DNR) Stock


Denbury Resources (NYSE:DNR) Receives a Downgrade

Denbury Resources (NYSE:DNR) was just downgraded by Stifel from the old “Hold” rating to a “Sell” in an analyst note released on Friday morning. Stifel now has a $1.5 price target on the shares. Stifel’s price target means a potential downside of -21.88% from the stock’s last stock close price.

From a total of 16 analysts covering Denbury Resources Inc. (NYSE:DNR) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $8 while the lowest target price is $1. The mean of all analyst targets is $4.3 with a 167.54% above today’s ($1.91) stock price. Denbury Resources Inc. was the topic of 11 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. UBS maintained shares on October 2 with “Sell” rating. Credit Suisse downgraded DNR stock in a recent report from September 8 to “Underperform” rating.

The stock decreased 8.37% or $0.17 during the last trading session, striking $1.91. Approximately shares of stock traded hands. Denbury Resources Inc. (NYSE:DNR) has declined 74.09% since May 15, 2015 and is downtrending. It has underperformed by 70.28% the S&P500.

The overall sentiment of institutions has decreased to 0.96 in Q2 2015. Its down 0.22, from 1.18 in 2015Q2. The ratio dropped, as 50 institutions have sold all the shares of Denbury Resources Inc. that they owned while 89 funds have taken shares off the table. 34 funds have purchased shares for the first time while 99 added to their positions. These institutions now hold 386.71 million shares or 5.24% more than the 367.47 million shares they owned in 2015Q2.

The Fund Sailingstone Capital Partners Llc currently is holding shares equating to 2.78% of its total portfolio in Denbury Resources Inc. representing a total of 37.04 million shares. Another fund,Elm Ridge Management Llc, is holding a total of 6.47 million shares equating to 2.3% of their holdings. Additionally, Sprucegrove Investment Management Ltd has a 20.81 million share stake in Denbury Resources Inc. which represents 1.26% of their total portfolio. The Fund, Cambrian Capital Limited Partnership, based out of California, has also built up a stake in the stock, which represents a total of 1.21% of their total portfolio. Finally Mount Lucas Management Lp, a fund which is based in the state of Pennsylvania reported a total holdings of 2.24 million shares.

Denbury Resources Inc. is an independent oil and natural gas company. The company has a market cap of $732.02 million. The Company’s activities are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. It currently has negative earnings. The Company’s properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.

According to Zacks Investment Research, “Denbury Resources Inc. is oil and gas company engaged in the exploration, production and development of natural gas properties in the Gulf Coast region located in Mississippi, Texas, Louisiana, and Alabama. It also has properties primarily located in Montana, North Dakota, Utah, and Wyoming. Denbury Resources Inc is headquartered in Plano, Texas.”