Teacher Retirement System of Texas grew its position in Denbury Resources Inc. (NYSE:DNR) by 284.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,170 shares of the oil and natural gas company’s stock after purchasing an additional 94,792 shares during the period. Teacher Retirement System of Texas’ holdings in Denbury Resources were worth $283,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of DNR. LMR Partners LLP acquired a new position in Denbury Resources in the 3rd quarter worth about $140,000. Schroder Investment Management Group acquired a new position in Denbury Resources in the 3rd quarter worth about $184,000. Municipal Employees Retirement System of Michigan increased its position in Denbury Resources by 59.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 149,470 shares of the oil and natural gas company’s stock worth $200,000 after purchasing an additional 55,480 shares during the last quarter. SG Americas Securities LLC increased its position in Denbury Resources by 495.9% in the 3rd quarter. SG Americas Securities LLC now owns 180,700 shares of the oil and natural gas company’s stock worth $242,000 after purchasing an additional 150,377 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Denbury Resources by 47.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 232,663 shares of the oil and natural gas company’s stock worth $312,000 after purchasing an additional 74,390 shares during the last quarter. 81.02% of the stock is currently owned by institutional investors.
DNR has been the topic of several research reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $2.00 target price on shares of Denbury Resources in a research report on Wednesday, December 20th. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research note on Wednesday, February 7th. Mizuho upgraded Denbury Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th. UBS initiated coverage on Denbury Resources in a research note on Wednesday, March 7th. They set a “neutral” rating and a $2.50 price target for the company. Finally, ValuEngine downgraded Denbury Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Denbury Resources presently has an average rating of “Hold” and an average target price of $1.82.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Thursday, February 22nd. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The company had revenue of $321.00 million during the quarter, compared to the consensus estimate of $310.27 million. Denbury Resources had a return on equity of 10.20% and a net margin of 14.44%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) EPS. research analysts expect that Denbury Resources Inc. will post 0.44 earnings per share for the current year.
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Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in 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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