Denbury Inc. (NYSE: DEN) stock jumped 1.79% on Thursday to $98.81 against a previous-day closing price of $97.07. With 1.03 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.47 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $98.95 whereas the lowest price it dropped to was $97.93. The 52-week range on DEN shows that it touched its highest point at $104.05 and its lowest point at $73.12 during that stretch. It currently has a 1-year price target of $93.89. Beta for the stock currently stands at 1.33.
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 up-trending over the past week, with a rise of 4.74%, but this was up by 10.70% over a month. Three-month performance surged to 12.26% while six-month performance rose 27.10%. The stock gained 15.81% in the past year, while it has gained 13.55% so far this year. A look at the trailing 12-month EPS for DEN yields 8.96 with Next year EPS estimates of 6.18. For the next quarter, that number is 1.35. This implies an EPS growth rate of 748.90% for this year and 16.47% 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 157.40%.
Float and Shares Shorts:
At present, 51.82 million DEN shares are outstanding with a float of 49.24 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.95 million, which was 7.76% higher than short shares on Jul 30, 2023. 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 109.53% of DEN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.24% of DEN, in contrast to 45.73% held by mutual funds. Shares owned by individuals account for 12.68%. As the largest shareholder in DEN with 12.74% of the stake, Fidelity Management & Research Co holds 6,404,312 shares worth 6,404,312. A second-largest stockholder of DEN, The Vanguard Group, Inc., holds 4,717,112 shares, controlling over 9.38% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in DEN, holding 3,075,589 shares or 6.12% stake. With a 2.93% stake in DEN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,471,307 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.46% of DEN stock, is the second-largest Mutual Fund holder. It holds 1,238,703 shares valued at 108.89 million. iShares Russell 2000 ETF holds 2.25% of the stake in DEN, owning 1,133,037 shares worth 99.61 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, DEN reported revenue of $481.37M and operating income of $245.34M. The EBITDA in the recently reported quarter was $274.12M and diluted EPS was $2.83.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DEN since 0 analysts follow the stock currently. 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 $120.00 and a low target of $87.00, the average target price over the next 12 months is $95.71. Based on these targets, DEN could surge 21.45% to reach the target high and fall by -11.95% to reach the target low. Reaching the average price target will result in a decline of -3.14% 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.
Summary of Insider Activity:
Insiders traded DEN stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 2,302 shares were bought while 0 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 61,562 while 13,724 shares were sold.