Denbury Resources Inc. (DNR) Shares Sold by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. lessened its stake in Denbury Resources Inc. (NYSE:DNR) by 20.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,090,550 shares of the oil and natural gas company’s stock after selling 278,100 shares during the quarter. Icon Advisers Inc. Co. owned about 0.28% of Denbury Resources worth $1,669,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in DNR. Capstone Asset Management Co. boosted its holdings in shares of Denbury Resources by 195.5% in the 1st quarter. Capstone Asset Management Co. now owns 71,238 shares of the oil and natural gas company’s stock valued at $184,000 after purchasing an additional 47,130 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Denbury Resources by 64.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 162,200 shares of the oil and natural gas company’s stock valued at $418,000 after purchasing an additional 63,700 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Denbury Resources by 137.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 556,369 shares of the oil and natural gas company’s stock valued at $1,430,000 after purchasing an additional 322,290 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Denbury Resources in the 1st quarter valued at $633,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Denbury Resources by 9.0% in the 1st quarter. Bank of New York Mellon Corp now owns 5,083,342 shares of the oil and natural gas company’s stock valued at $13,114,000 after purchasing an additional 418,308 shares during the last quarter. Institutional investors own 86.45% of the company’s stock.
Denbury Resources Inc. (DNR) opened at 1.25 on Friday. Denbury Resources Inc. has a one year low of $0.91 and a one year high of $4.29. The firm’s market cap is $487.38 million. The firm has a 50-day moving average of $1.21 and a 200-day moving average of $1.76.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. The company had revenue of $261.20 million for the quarter, compared to analyst estimates of $248.66 million. During the same quarter in the prior year, the business posted $0.08 EPS. Denbury Resources’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Denbury Resources Inc. will post $0.02 EPS for the current year.
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Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Denbury Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 18th. Royal Bank Of Canada set a $2.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a report on Friday, August 25th. BMO Capital Markets reduced their target price on shares of Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating on the stock in a report on Friday, July 14th. BidaskClub upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Credit Suisse Group restated an “underperform” rating and set a $2.00 target price on shares of Denbury Resources in a report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $2.42.
Denbury Resources 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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