Tower Research Capital LLC TRC cut its stake in Denbury Resources Inc. (NYSE:DNR) by 55.6% during the second quarter, Holdings Channel reports. The firm owned 52,656 shares of the company’s stock after selling 66,022 shares during the period. Tower Research Capital LLC TRC’s holdings in Denbury Resources were worth $189,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oakbrook Investments LLC boosted its position in Denbury Resources by 80.5% in the second quarter. Oakbrook Investments LLC now owns 28,700 shares of the company’s stock valued at $103,000 after buying an additional 12,800 shares during the period. World Asset Management Inc boosted its position in Denbury Resources by 6.6% in the second quarter. World Asset Management Inc now owns 29,375 shares of the company’s stock valued at $105,000 after buying an additional 1,829 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Denbury Resources during the second quarter valued at approximately $109,000. Acrospire Investment Management LLC purchased a new position in Denbury Resources during the second quarter valued at approximately $111,000. Finally, Wright Investors Service Inc. purchased a new position in Denbury Resources during the second quarter valued at approximately $114,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.
Shares of Denbury Resources Inc. (NYSE:DNR) opened at 3.23 on Monday. 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 company’s 50-day moving average is $3.02 and its 200 day moving average is $3.32.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. Denbury Resources had a negative net margin of 361.13% and a positive return on equity of 6.04%. The firm earned $255.15 million during the quarter, compared to the consensus estimate of $285.70 million. During the same period last year, the firm posted $0.13 EPS. The firm’s quarterly revenue was down 32.5% on a year-over-year basis. On average, analysts expect that Denbury Resources Inc. will post ($0.01) EPS for the current fiscal year.
Several research firms have commented on DNR. Barclays PLC cut shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $3.00 to $2.50 in a research report on Wednesday, August 10th. Zacks Investment Research cut shares of Denbury Resources from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Finally, Stifel Nicolaus upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $2.70.
In related news, Director Greg Mcmichael sold 10,000 shares of Denbury Resources stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the transaction, the director now directly owns 89,379 shares of the company’s stock, valued at approximately $279,756.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.86% of the company’s stock.
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.
Want to see what other hedge funds are holding DNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Denbury Resources Inc. (NYSE:DNR).
Receive News & Ratings for Denbury Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Denbury Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.