Mason Street Advisors LLC acquired a new position in shares of Denbury Resources Inc. (NYSE:DNR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 159,882 shares of the company’s stock, valued at approximately $574,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Clinton Group Inc. boosted its stake in Denbury Resources by 83.6% in the second quarter. Clinton Group Inc. now owns 28,493 shares of the company’s stock worth $102,000 after buying an additional 12,970 shares during the last quarter. Oakbrook Investments LLC boosted its stake in 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. World Asset Management Inc boosted its stake in Denbury Resources by 6.6% in the second quarter. World Asset Management Inc now owns 29,375 shares of the company’s stock worth $105,000 after buying an additional 1,829 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Denbury Resources during the second quarter worth about $109,000. Finally, Acrospire Investment Management LLC acquired a new stake in Denbury Resources during the second quarter worth about $111,000. 90.47% of the stock is owned by institutional investors.
Denbury Resources Inc. (NYSE:DNR) opened at 3.29 on Tuesday. The firm has a 50-day moving average price of $3.04 and a 200 day moving average price of $3.34. Denbury Resources Inc. has a one year low of $0.86 and a one year high of $4.80. The firm’s market capitalization is $1.22 billion.
Denbury Resources (NYSE:DNR) last released its 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. The company earned $255.15 million during 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%. Denbury Resources’s quarterly revenue was down 32.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. Analysts anticipate that Denbury Resources Inc. will post ($0.01) EPS for the current fiscal year.
DNR has been the subject of a number of recent analyst reports. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Wednesday, August 10th. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Finally, Barclays PLC cut Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $3.00 to $2.50 in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $2.70.
In other news, Director Greg Mcmichael sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 89,379 shares of the company’s stock, valued at $279,756.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is owned by insiders.
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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