Denbury Inc. Stock Research

Market Summary

USD79.43+1.69

Delayed

2.17%

DEN Alerts

Big fall in earnings (Y/Y)

DEN Stock Price

DEN RSI Chart

DEN Valuation

Market Cap

4.1B

Price/Earnings (Trailing)

8.47

Price/Sales (Trailing)

2.37

EV/EBITDA

5.76

Price/Free Cashflow

7.81

DEN Price/Sales (Trailing)

DEN Profitability

EBT Margin

32.37%

Return on Equity

31.33%

Return on Assets

20.63%

Free Cashflow Yield

12.81%

DEN Fundamentals

DEN Revenue

Revenue (TTM)

1.7B

Revenue Y/Y

5.32%

Revenue Q/Q

-13.27%

DEN Earnings

Earnings (TTM)

480.2M

Earnings Y/Y

-37.73%

Earnings Q/Q

-70%

Price Action

52 Week Range

56.59104.05

(Low)(High)

Last 7 days

-7.3%

Last 30 days

-10.4%

Last 90 days

-11.9%

Trailing 12 Months

13.4%

DEN Financial Health

Current Ratio

0.59

Debt/Equity

0.02

Debt/Cashflow

17.96

DEN Investor Care

Shares Dilution (1Y)

0.17%

Diluted EPS (TTM)

8.83

Peers (Alternatives to Denbury)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AAPL	2.5T	387.5B	-0.56%	-0.91%	25.94	6.37	2.44%	-5.35%
MSFT	2.1T	204.1B	-1.92%	-6.89%	30.5	10.08	10.38%	-5.25%
GOOG	1.3T	282.8B	1.63%	-25.54%	21.65	4.59	9.78%	-21.12%
AMZN	1.0T	514.0B	-3.36%	-34.72%	-376.42	1.99	9.40%	-108.16%
MID-CAP
NYMT	3.6B	258.4M	203.99%	176.76%	-11.9	13.75	24.91%	-254.56%
JBLU	2.3B	9.2B	-18.97%	-49.38%	-6.41	0.25	51.67%	-98.90%
SMALL-CAP
PLAY	1.7B	1.7B	-22.36%	-14.62%	13.72	0.97	61.79%	371.82%
TLRY	1.6B	602.5M	-17.77%	-52.80%	-2.74	2.63	18.18%	-18.59%
BYND	1.1B	418.9M	5.51%	-56.16%	-2.93	2.57	-9.85%	-101.06%
CGC	991.7M	478.9M	-11.35%	-65.42%	-0.32	2.07	-31.50%	-634.70%
MFA	954.9M	482.4M	-16.25%	-37.64%	-4.12	1.98	33.15%	-170.42%
NKLA	897.6M	50.8M	-34.66%	-77.56%	-1.14	17.66	1229.98%	-13.59%
GPRO	788.4M	1.1B	-10.56%	-33.33%	27.33	0.72	-5.82%	-92.23%
INO	281.8M	10.3M	-24.84%	-63.38%	-1.01	27.46	478.23%	7.85%

Financials for Denbury

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	1.1%	1,715	1,695	1,600	1,419	1,258
S&GA Expenses	8.9%	82.00	75.00	70.00	66.00	79.00
EBITDA	-3.4%	710	736	527	269	-
EBITDA Margin	-4.5%	0.41*	0.43*	0.33*	0.19*	-
Earnings Before Taxes	-5.3%	555	586	378	119	57.00
EBT Margin	-6.4%	0.32*	0.35*	0.24*	0.08*	-
Interest Expenses	6.4%	4.00	4.00	4.00	3.00	4.00
Net Income	-8.7%	480	526	358	125	56.00
Net Income Margin	-9.7%	0.28*	0.31*	0.22*	0.09*	-
Free Cahsflow	11.7%	521	466	414	355	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	3.8%	2,327	2,243	2,139	2,031	1,903
Current Assets	-17.4%	206	250	282	244	175
Cash Equivalents	0.4%	1.00	1.00	1.00	1.00	4.00
Net PPE	7.9%	1,932	1,790	1,668	1,598	1,542
Current Liabilities	-10.3%	347	387	539	529	407
Long Term Debt	-17.1%	29.00	35.00	-	-	-
LT Debt, Non Current	Infinity%	15.00	-	35.00	35.00	-
Shareholder's Equity	5.5%	1,533	1,453	1,269	1,138	1,135
Retained Earnings	18.3%	486	410	160	4.00	5.00
Additional Paid-In Capital	0.4%	1,047	1,042	1,138	1,133	1,130
Accumulated Depreciation	13.4%	307	271	240	211	181
Shares Outstanding	-1.1%	51.00	52.00	52.00	-	-

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	11.7%	521	466	414	355	317
Share Based Compensation	14.5%	16.00	14.00	12.00	11.00	25.00
Cashflow From Investing	-14.8%	-427	-372	-331	-259	-202
Cashflow From Financing	-1.8%	-95.28	-93.63	-94.65	-94.68	-106
Buy Backs	-34.8%	100	153	0.00	0.00	-

Risks for DEN

What is the probability of a big loss on DEN?

98.8%

Probability that Denbury stock will be more than 20% underwater in next one year

75%

Probability that Denbury stock will be more than 30% underwater in next one year.

56.1%

Probability that Denbury stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does DEN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Denbury was unfortunately bought at previous high price.

Drawdowns

Returns for DEN

Cumulative Returns on DEN

16.0%

10-Year Cumulative Returns

65.0%

7-Year Cumulative Returns

99.2%

5-Year Cumulative Returns

495.7%

3-Year Cumulative Returns

What are the long-term rolling returns for DEN?

FIve years rolling returns for Denbury.

Annualized Returns

Which funds bought or sold DEN recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	40.88	15,427,500	52,057,500	0.06%
2023-02-28	Voya Investment Management LLC	added	1.41	38,744	1,736,740	-%
2023-02-27	Parallax Volatility Advisers, L.P.	sold off	-100	-467,000	-	-%
2023-02-24	NATIXIS	sold off	-100	-5,007,000	-	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	-	19,000	-%
2023-02-21	MACQUARIE GROUP LTD	added	2.16	998,000	35,889,000	0.04%
2023-02-16	DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main	sold off	-100	-760,000	-	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	new	-	3,481	3,481	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	reduced	-39.76	-22,124,300	34,276,700	0.01%
2023-02-15	JANE STREET GROUP, LLC	added	0.33	4,145	318,145	-%

Latest Funds Activity

Are funds buying DEN calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own DEN

No. of Funds

DEN Alerts

Big fall in earnings (Y/Y)

Denbury News

Schedule 13G FIlings of Denbury

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	goldman sachs group inc	7.8%	3,878,261	SC 13G
Feb 14, 2023	silver point capital l.p.	3.0%	1,495,600	SC 13G/A
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	william blair investment management, llc	3.1%	1,534,216	SC 13G/A
Feb 09, 2023	vanguard group inc	9.67%	4,816,289	SC 13G/A
Jan 31, 2023	blackrock inc.	7.1%	3,556,803	SC 13G/A
Feb 14, 2022	silver point capital l.p.	7.6%	3,819,800	SC 13G
Feb 11, 2022	capital world investors	2.7%	1,365,535	SC 13G/A
Feb 10, 2022	goldentree asset management lp	0.0%	0	SC 13G/A
Feb 10, 2022	william blair investment management, llc	6.7%	3,341,888	SC 13G

DEN Fair Value

Denbury fair value in different scenarios

The table shows the Fair Value estimates for Denbury for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	36.62 -53.90%	43.99 -44.62%	64.33 -19.01%	97.67 22.96%	121.06 52.41%
Very High Inflation	- -	- -	- -	- -	- -

Historical Denbury Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Denbury

View All Filings

Date Filed	Form Type	Document
Mar 15, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading

Latest Insider Trading transactions for DEN

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-13	Jennings Nicole H.	sold	-48,730	78.8511	-618	vice president and cao
2023-03-07	Matthews James S.	sold (taxes)	-53,411	83.98	-636	evp, cao, gc & sec'y
2023-03-07	Yeilding Cindy A	acquired	-	-	1,768	-
2023-03-07	Wiggs Brett	acquired	-	-	1,768	-
2023-03-07	Kendall Christian S	sold (taxes)	-257,399	83.98	-3,065	president and ceo
2023-03-07	Peterson Lynn A	acquired	-	-	1,768	-
2023-03-07	ABATE ANTHONY	acquired	-	-	1,768	-
2023-03-07	Jennings Nicole H.	sold (taxes)	-16,712	83.98	-199	vice president and cao
2023-03-07	Meyers Kevin Omar	acquired	-	-	2,652	-
2023-03-07	ALLEN MARK C	acquired	-	-	8,130	executive vp & cfo

About Denbury

Christian S. Kendall

http://www.denbury.com/

720

Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, and Louisiana in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region. As of December 31, 2019, the company had 230.2 million barrels of oil equivalent of estimated proved oil and natural gas reserves. Denbury Resources Inc. was incorporated in 2003 and is headquartered in Plano, Texas.

DEN Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Sep. 18, 2020	Dec. 31, 2022	Dec. 31, 2021
Revenues	$ 215,903	$ 521,693	$ 1,704,345	$ 1,242,872
Other income	4,697	8,419	10,314	15,288
Revenues and other income	220,600	530,112	1,714,659	1,258,160
Lease operating expenses	101,234	250,271	502,409	424,550
Expenses
Taxes other than income	16,584	43,531	131,502	91,390
General and administrative expenses	19,470	48,522	82,180	79,258
Interest, net of amounts capitalized of $4,237, $4,585, $1,261, and $22,885, respectively	1,815	48,267	4,025	4,147
Depletion, depreciation, and amortization	45,812	188,593	151,428	150,640
Commodity derivatives expense (income)	61,902	(102,032)	178,744	352,984
Gain on debt extinguishment	0	(18,994)	0	0
Write-down of oil and natural gas properties	1,006	996,658	0	14,377
Reorganization items, net	0	849,980	0	0
Other expenses	8,072	35,868	16,284	10,816
Total expenses	273,784	2,378,819	1,159,655	1,201,391
Income (loss) before income taxes	(53,184)	(1,848,707)	555,004	56,769
Income tax provision (benefit)	(2,526)	(416,129)	74,844	767
Net income (loss)	$ (50,658)	$ (1,432,578)	$ 480,160	$ 56,002
Net income (loss) per common share
Basic (in dollars per share)	$ (1.01)	$ (2.89)	$ 9.34	$ 1.10
Diluted (in dollars per share)	$ (1.01)	$ (2.89)	$ 8.83	$ 1.04
Weighted average common shares outstanding
Basic (in shares)	50,000	495,560	51,427	50,918
Diluted (in shares)	50,000	495,560	54,355	53,818
Oil, natural gas, and related product sales
Revenues	$ 201,108	$ 492,101	$ 1,578,682	$ 1,159,955
Expenses
Operating expenses	10,595	27,164	20,112	28,817
CO2
Revenues	9,419	21,049	60,570	44,175
Expenses
Operating expenses	1,976	2,592	8,474	6,678
Oil marketing revenues
Revenues	5,376	8,543	65,093	38,742
Expenses
Operating expenses	$ 5,318	$ 8,399	$ 64,497	$ 37,734

DEN Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 521	$ 3,671
Accrued production receivable	144,277	143,365
Trade and other receivables, net	27,343	19,270
Derivative assets	15,517	0
Prepaids	18,572	9,099
Total current assets	206,230	175,405
Oil and natural gas properties (using full cost accounting)
Proved properties	1,414,779	1,109,011
Unevaluated properties	240,435	112,169
CO2 properties	190,985	183,369
Pipelines	220,125	224,394
CCUS storage sites and related assets	64,971	0
Other property and equipment	107,133	93,950
Less accumulated depletion, depreciation, amortization and impairment	(306,743)	(181,393)
Net property and equipment	1,931,685	1,541,500
Operating lease right-of-use assets	18,017	19,502
Intangible assets, net	79,128	88,248
Restricted cash for future asset retirement obligations	47,359	46,673
Other assets	45,080	31,625
Total assets	2,327,499	1,902,953
Current liabilities
Accounts payable and accrued liabilities	248,800	191,598
Oil and gas production payable	80,368	75,899
Derivative liabilities	13,018	134,509
Operating lease liabilities	4,676	4,677
Total current liabilities	346,862	406,683
Long-term liabilities
Long-term debt, net of current portion	29,000	35,000
Asset retirement obligations	315,942	284,238
Deferred tax liabilities, net	71,120	1,638
Operating lease liabilities	15,431	17,094
Other liabilities	16,527	22,910
Total long-term liabilities	448,020	360,880
Commitments and contingencies (Note 14)
Stockholders’ equity
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.001 par value, 250,000,000 shares authorized; 49,814,874 and 50,193,656 shares issued, respectively	50	50
Paid-in capital in excess of par	1,047,063	1,129,996
Retained earnings	485,504	5,344
Total stockholders’ equity	1,532,617	1,135,390
Total liabilities and stockholders’ equity	$ 2,327,499	$ 1,902,953