MERIAN GLOBAL INVESTORS UK Ltd Takes $9.86 Million Position in Denbury Resources Inc. (DNR)

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MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of Denbury Resources Inc. (NYSE:DNR) in the 3rd quarter, HoldingsChannel reports. The fund acquired 1,589,825 shares of the oil and natural gas company’s stock, valued at approximately $9,856,000.

Other large investors also recently added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new position in Denbury Resources during the 2nd quarter valued at $117,000. Advisor Partners LLC acquired a new position in Denbury Resources during the 2nd quarter valued at $151,000. CIBC Private Wealth Group LLC raised its stake in Denbury Resources by 41.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 40,900 shares of the oil and natural gas company’s stock valued at $197,000 after purchasing an additional 12,000 shares during the last quarter. Sigma Planning Corp acquired a new position in Denbury Resources during the 2nd quarter valued at $256,000. Finally, LPL Financial LLC raised its stake in Denbury Resources by 33.5% during the 1st quarter. LPL Financial LLC now owns 54,094 shares of the oil and natural gas company’s stock valued at $148,000 after purchasing an additional 13,577 shares during the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

A number of brokerages have recently issued reports on DNR. ValuEngine upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. KLR Group restated a “hold” rating and issued a $5.00 price objective on shares of Denbury Resources in a research note on Monday, August 20th. TheStreet upgraded shares of Denbury Resources from a “d” rating to a “c-” rating in a research note on Wednesday, August 22nd. Stifel Nicolaus increased their price objective on shares of Denbury Resources from $1.30 to $4.60 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Finally, Johnson Rice upgraded shares of Denbury Resources from a “hold” rating to an “accumulate” rating in a research note on Wednesday, August 15th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.18.

Shares of DNR stock opened at $5.26 on Friday. Denbury Resources Inc. has a 52-week low of $1.04 and a 52-week high of $6.75. The firm has a market capitalization of $2.46 billion, a PE ratio of 13.00 and a beta of 3.38. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.04.

Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Denbury Resources had a net margin of 14.77% and a return on equity of 25.74%. The company had revenue of $387.06 million during the quarter, compared to analysts’ expectations of $328.72 million. As a group, equities research analysts forecast that Denbury Resources Inc. will post 0.49 earnings per share for the current year.

In other news, CAO James S. Matthews sold 20,000 shares of the stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $4.86, for a total value of $97,200.00. Following the completion of the transaction, the chief accounting officer now owns 459,949 shares in the company, valued at approximately $2,235,352.14. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% 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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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).

Institutional Ownership by Quarter for Denbury Resources (NYSE:DNR)

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