Gargoyle Investment Advisor L.L.C. bought a new position in shares of Denbury Resources Inc. (NYSE:DNR) during the second quarter, Holdings Channel reports. The firm bought 104,696 shares of the company’s stock, valued at approximately $376,000.
Several other institutional investors have also made changes to their positions in DNR. Oakbrook Investments LLC raised its position in shares of Denbury Resources by 80.5% in the second quarter. Oakbrook Investments LLC now owns 28,700 shares of the company’s stock worth $103,000 after buying an additional 12,800 shares during the last quarter. BlackRock Group LTD raised its position in shares of Denbury Resources by 4.2% in the first quarter. BlackRock Group LTD now owns 347,956 shares of the company’s stock worth $772,000 after buying an additional 14,037 shares during the last quarter. Aperio Group LLC raised its position in shares of Denbury Resources by 47.4% in the first quarter. Aperio Group LLC now owns 212,466 shares of the company’s stock worth $472,000 after buying an additional 68,345 shares during the last quarter. Alpine Partners VI LLC acquired a new position in shares of Denbury Resources during the first quarter worth about $153,000. Finally, First Quadrant L P CA raised its position in shares of Denbury Resources by 9,481.7% in the second quarter. First Quadrant L P CA now owns 120,154 shares of the company’s stock worth $431,000 after buying an additional 118,900 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.
Shares of Denbury Resources Inc. (NYSE:DNR) traded down 8.02% on Friday, reaching $2.98. The company had a trading volume of 11,102,131 shares. The firm’s market capitalization is $1.10 billion. Denbury Resources Inc. has a 12 month low of $0.86 and a 12 month high of $4.80. The company’s 50-day moving average is $3.03 and its 200 day moving average is $3.34.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data 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 analyst estimates 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 for the quarter was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 EPS. Equities analysts forecast that Denbury Resources Inc. will post ($0.01) earnings per share for the current year.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered Denbury Resources from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Barclays PLC lowered Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $3.00 to $2.50 in a research report on Wednesday, August 10th. Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, Mizuho initiated coverage on Denbury Resources in a report on Wednesday. They issued a “neutral” rating and a $3.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $2.72.
In related news, Director Greg Mcmichael sold 10,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the sale, the director now owns 89,379 shares in the company, valued at approximately $279,756.27. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.
Denbury Resources Company Profile
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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