4. Denbury Resources is a U.S.-based oil and natural gas company. It is the largest oil and natural gas producer in the states of Mississippi and Montana, and holds major operating acreage in the Rocky Mountains and the Gulf Coast.
Denbury's oil and natural gas production averaged 64,919 boe/d during the second quarter of 2011 compared to 63,585 boe/d during the same quarter the prior year. Revenue grew 21% during the quarter, boosted by crude oil and natural gas production.
Adjusted net income increased 92% to $259 million, while adjusted operational cash flow was $398 million. The company's capital expenditure budget for 2011 increased to $1.35 billion, excluding acquisitions.Gaining 22% in the last month, the stock is trading at 13.7 times its estimated 2011 earnings with 51% upside. It has a 74% buy rating.
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