Market Overview

UPDATE: Wunderlich Securities Reiterates Buy Rating, Raises PT on Denbury Resources

Related DNR
Benzinga's Top Downgrades
RBC Capital Downgrades Denbury Resources To Sector Perform
Energy Stocks Move Higher as Oil Spikes (Fox Business)

In a report published Monday, Wunderlich Securities reiterated its Buy rating on Denbury Resources (NYSE: DNR), and raised its price target from $18.00 to $22.00.

Wunderlich Securities noted, “Denbury Resources, Inc. (DNR) announced last week that it would monetize its Williston Basin assets for interests in two mature oil fields and $1.6 billion to Exxon Mobil Corporation (XOM-NR). Denbury also increased its CO2 exposure in the Rocky Mountains and is negotiating for an interest in Exxon Mobil's LaBarge Field. We like these moves by Denbury as it allows them to unlock the value of the Williston assets, improve the financial position and return the company to one solely focused on tertiary oil recovery.”

Denbury Resources closed on Friday at $17.36.

Latest Ratings for DNR

DateFirmActionFromTo
Sep 2014RBC CapitalDowngradesOutperformSector Perform
Aug 2014CitigroupMaintainsNeutral
Aug 2014UBSMaintainsNeutral

View More Analyst Ratings for DNR
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (DNR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters