Diversified Trust Co lowered its stake in Denbury Resources Inc. (NYSE:DNR) by 18.6% during the second quarter, Holdings Channel reports. The fund owned 52,900 shares of the company’s stock after selling 12,100 shares during the period. Diversified Trust Co’s holdings in Denbury Resources were worth $190,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Denbury Resources during the fourth quarter valued at approximately $7,795,000. Acadian Asset Management LLC bought a new position in shares of Denbury Resources during the second quarter valued at approximately $7,140,000. Bank of Montreal Can bought a new position in shares of Denbury Resources during the second quarter valued at approximately $4,495,000. Foundry Partners LLC bought a new position in shares of Denbury Resources during the second quarter valued at approximately $2,678,000. Finally, UBS Group AG increased its position in shares of Denbury Resources by 3,483.2% in the first quarter. UBS Group AG now owns 693,020 shares of the company’s stock valued at $1,538,000 after buying an additional 673,679 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Denbury Resources Inc. (NYSE:DNR) traded up 2.54% on Friday, hitting $3.23. The stock had a trading volume of 12,867,765 shares. The firm’s market capitalization is $1.20 billion. Denbury Resources Inc. has a 1-year low of $0.86 and a 1-year high of $4.80. The firm has a 50 day moving average of $3.02 and a 200-day moving average of $3.32.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, August 4th. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.06. The business had revenue of $255.15 million for the quarter, compared to analysts’ expectations of $285.70 million. Denbury Resources had a positive return on equity of 6.04% and a negative net margin of 361.13%. The firm’s revenue was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Equities analysts predict that Denbury Resources Inc. will post ($0.01) earnings per share for the current year.
Several research analysts have commented on DNR shares. Zacks Investment Research downgraded Denbury Resources from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, Barclays PLC downgraded Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $3.00 to $2.50 in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.70.
In related news, Director Greg Mcmichael sold 10,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $3.13, for a total value of $31,300.00. Following the transaction, the director now owns 89,379 shares of the company’s stock, valued at $279,756.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is owned by corporate insiders.
About Denbury Resources
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.
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