Denbury Inc. (NYSE: DEN) stock jumped 5.35% on Tuesday to $94.70 against a previous-day closing price of $89.89. With 0.67 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.8 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $94.70 whereas the lowest price it dropped to was $91.88. The 52-week range on DEN shows that it touched its highest point at $104.05 and its lowest point at $56.59 during that stretch. It currently has a 1-year price target of $106.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DEN was down-trending over the past week, with a drop of -0.32%, but this was down by -2.92% over a month. Three-month performance surged to 1.83% while six-month performance rose 31.47%. The stock gained 16.88% in the past year, while it has gained 23.65% so far this year. A look at the trailing 12-month EPS for DEN yields 6.25 with Next year EPS estimates of 8.32. For the next quarter, that number is 1.77. This implies an EPS growth rate of 103.50% for this year and 15.09% for next year. EPS is expected to grow by 32.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 19.10%.
Float and Shares Shorts:
At present, 51.76 million DEN shares are outstanding with a float of 48.16 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.49 million, which was 11.04% higher than short shares on Sep 14, 2022. In addition to Mr. Christian S. Kendall as the firm’s Pres, CEO & Director, Mr. Mark C. Allen CPA serves as its Exec. VP, CFO, Treasurer & Assistant Sec.
Through their ownership of 106.78% of DEN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.64% of DEN, in contrast to 46.38% held by mutual funds. Shares owned by individuals account for 12.81%. As the largest shareholder in DEN with 12.93% of the stake, Fidelity Management & Research Co holds 6,429,744 shares worth 6,429,744. A second-largest stockholder of DEN, The Vanguard Group, Inc., holds 4,637,748 shares, controlling over 9.33% of the firm’s shares. Goldman Sachs & Co. LLC is the third largest shareholder in DEN, holding 3,658,638 shares or 7.36% stake. With a 2.85% stake in DEN, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,419,172 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.45% of DEN stock, is the second-largest Mutual Fund holder. It holds 1,218,833 shares valued at 111.41 million. iShares Russell 2000 ETF holds 2.22% of the stake in DEN, owning 1,102,777 shares worth 100.8 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DEN since 9 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DEN analysts setting a high price target of $146.00 and a low target of $95.00, the average target price over the next 12 months is $112.20. Based on these targets, DEN could surge 54.17% to reach the target high and rise by 0.32% to reach the target low. Reaching the average price target will result in a growth of 18.48% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DEN will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of $8.93 being high and $6.78 being low. For DEN, this leads to a yearly average estimate of $7.36. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Denbury Inc. surprised analysts by $0.06 when it reported $1.90 EPS against a consensus estimate of $1.84. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is $2.04 and the low estimate is $1.37. The average estimate for the next quarter is thus $1.76.
Summary of Insider Activity:
Insiders traded DEN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 55,694 while 6,189 shares were sold.