Denbury Resources Inc. (DNR - Free Report) is a Texas-based oil and gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DNR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Denbury could be a solid choice for investors.
Current Quarter Estimates for DNR
In the past 30 days, 3 estimates have gone higher for Denbury while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 4 cents a share 30 days ago, to a loss of 3 cents per share today, a move of 25%.
Current Year Estimates for DNR
Meanwhile, Denbury’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from a loss of 1 cent per share 30 days ago to earnings of 1 cent per share today.
The stock has also started to move higher lately, adding 5.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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