Alps Advisors Inc. trimmed its holdings in Denbury Resources Inc. (NYSE:DNR) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,487 shares of the oil and natural gas company’s stock after selling 11,468 shares during the quarter. Alps Advisors Inc.’s holdings in Denbury Resources were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. IFG Advisory LLC bought a new position in shares of Denbury Resources in the first quarter valued at approximately $25,000. Mercer Global Advisors Inc. ADV purchased a new position in Denbury Resources in the first quarter valued at approximately $72,000. Callahan Advisors LLC lifted its stake in Denbury Resources by 32.3% in the second quarter. Callahan Advisors LLC now owns 63,500 shares of the oil and natural gas company’s stock valued at $79,000 after purchasing an additional 15,500 shares during the last quarter. Advisory Services Network LLC purchased a new position in Denbury Resources in the second quarter valued at approximately $96,000. Finally, Econ Financial Services Corp lifted its stake in Denbury Resources by 88.7% in the first quarter. Econ Financial Services Corp now owns 48,962 shares of the oil and natural gas company’s stock valued at $100,000 after purchasing an additional 23,018 shares during the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.
DNR stock opened at $1.29 on Friday. The firm has a market capitalization of $638.74 million, a price-to-earnings ratio of 2.69 and a beta of 3.37. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a 50 day moving average price of $1.07 and a 200-day moving average price of $1.57. Denbury Resources Inc. has a 52-week low of $0.87 and a 52-week high of $6.75.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Wednesday, August 7th. The oil and natural gas company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.04. The company had revenue of $343.36 million during the quarter, compared to the consensus estimate of $331.52 million. Denbury Resources had a net margin of 27.05% and a return on equity of 18.67%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. As a group, sell-side analysts forecast that Denbury Resources Inc. will post 0.43 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on DNR shares. UBS Group set a $2.00 target price on Denbury Resources and gave the stock a “hold” rating in a research report on Thursday, June 20th. Imperial Capital lowered their price objective on Denbury Resources from $3.00 to $2.00 and set an “in-line” rating on the stock in a research report on Thursday, June 6th. TheStreet cut Denbury Resources from a “c-” rating to a “d+” rating in a research note on Thursday, May 23rd. Finally, Royal Bank of Canada set a $2.00 target price on Denbury Resources and gave the company a “hold” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $3.54.
In other Denbury Resources news, insider Christian S. Kendall acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average price of $1.25 per share, with a total value of $125,000.00. Following the transaction, the insider now directly owns 2,003,390 shares in the company, valued at approximately $2,504,237.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.
Denbury Resources 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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