Ameriprise Financial Inc. cut its position in Denbury Resources Inc. (NYSE:DNR) by 53.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,434,524 shares of the company’s stock after selling 1,640,036 shares during the period. Ameriprise Financial Inc. owned approximately 0.39% of Denbury Resources worth $5,150,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP bought a new stake in shares of Denbury Resources during the second quarter worth $12,911,000. Acadian Asset Management LLC acquired a new stake in shares of Denbury Resources during the second quarter valued at approximately $7,140,000. Emerald Acquisition Ltd. acquired a new stake in shares of Denbury Resources during the second quarter valued at approximately $5,987,000. Bank of Montreal Can acquired a new stake in shares of Denbury Resources during the second quarter valued at approximately $4,495,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Denbury Resources by 21.5% in the second quarter. Bank of New York Mellon Corp now owns 6,826,846 shares of the company’s stock valued at $24,508,000 after buying an additional 1,207,905 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.
Denbury Resources Inc. (NYSE:DNR) remained flat at $2.81 during midday trading on Friday. The company had a trading volume of 8,253,887 shares. The firm’s 50-day moving average price is $3.02 and its 200-day moving average price is $3.36. The stock’s market capitalization is $1.04 billion. Denbury Resources Inc. has a 1-year low of $0.86 and a 1-year high of $4.80.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. Denbury Resources had a positive return on equity of 6.04% and a negative net margin of 361.13%. The firm had revenue of $255.15 million for the quarter, compared to analyst estimates of $285.70 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was down 32.5% on a year-over-year basis. Equities research analysts anticipate that Denbury Resources Inc. will post ($0.01) earnings per share for the current fiscal year.
DNR has been the topic of a number of analyst reports. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research note on Wednesday, August 10th. Mizuho assumed coverage on Denbury Resources in a research note on Wednesday, October 5th. They set a “neutral” rating and a $3.00 target price on the stock. Finally, Barclays PLC cut Denbury Resources from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $3.00 to $2.50 in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $2.51.
In other Denbury Resources news, Director Greg Mcmichael sold 10,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $3.13, for a total value of $31,300.00. Following the transaction, the director now owns 89,379 shares of the company’s stock, valued at $279,756.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by company 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.
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.