Legal & General Group Plc reduced its holdings in shares of Denbury Resources Inc. (NYSE:DNR) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,102,670 shares of the oil and natural gas company’s stock after selling 29,103 shares during the period. Legal & General Group Plc owned 0.24% of Denbury Resources worth $1,887,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its position in Denbury Resources by 1.8% during the 4th quarter. BlackRock Inc. now owns 67,173,062 shares of the oil and natural gas company’s stock valued at $114,867,000 after acquiring an additional 1,195,730 shares during the period. Vanguard Group Inc. lifted its position in Denbury Resources by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 61,830,605 shares of the oil and natural gas company’s stock valued at $383,349,000 after acquiring an additional 2,706,664 shares during the period. Vanguard Group Inc lifted its position in Denbury Resources by 4.6% during the 3rd quarter. Vanguard Group Inc now owns 61,830,605 shares of the oil and natural gas company’s stock valued at $383,349,000 after acquiring an additional 2,706,664 shares during the period. Dimensional Fund Advisors LP increased its stake in Denbury Resources by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,876,184 shares of the oil and natural gas company’s stock valued at $35,699,000 after purchasing an additional 853,975 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Denbury Resources by 48.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,680,373 shares of the oil and natural gas company’s stock valued at $103,419,000 after purchasing an additional 5,428,350 shares in the last quarter. 89.56% of the stock is owned by institutional investors.
In related news, insider Christian S. Kendall purchased 150,000 shares of Denbury Resources stock in a transaction dated Tuesday, March 26th. The stock was purchased at an average cost of $2.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the insider now directly owns 1,751,765 shares of the company’s stock, valued at approximately $3,503,530. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.
DNR has been the subject of a number of analyst reports. Johnson Rice lowered shares of Denbury Resources from an “accumulate” rating to a “hold” rating in a research note on Tuesday, January 8th. Oppenheimer restated a “hold” rating on shares of Denbury Resources in a research note on Thursday, March 21st. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research note on Thursday, January 10th. Finally, Imperial Capital set a $2.00 price objective on shares of Denbury Resources and gave the company a “hold” rating in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Denbury Resources presently has a consensus rating of “Hold” and an average price target of $4.36.
NYSE:DNR opened at $2.21 on Friday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 4.60 and a beta of 3.58. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.81 and a quick ratio of 0.81. Denbury Resources Inc. has a fifty-two week low of $1.39 and a fifty-two week high of $6.75.
Denbury Resources (NYSE:DNR) last released its quarterly earnings data on Wednesday, February 27th. The oil and natural gas company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $336.00 million during the quarter, compared to analyst estimates of $329.65 million. Denbury Resources had a net margin of 21.90% and a return on equity of 23.95%. Denbury Resources’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. Equities research analysts expect that Denbury Resources Inc. will post 0.45 earnings per share for the current year.
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Denbury Resources Company Profile
Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
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