Nomura Asset Management Co. Ltd. Has $2.63 Million Position in Denbury Resources Inc. (DNR)
Nomura Asset Management Co. Ltd. decreased its position in shares of Denbury Resources Inc. (NYSE:DNR) by 16.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 424,253 shares of the oil and natural gas company’s stock after selling 85,135 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Denbury Resources were worth $2,630,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in DNR. Dimensional Fund Advisors LP increased its stake in Denbury Resources by 50.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,489,262 shares of the oil and natural gas company’s stock worth $93,744,000 after buying an additional 6,542,311 shares during the period. JPMorgan Chase & Co. increased its stake in Denbury Resources by 48.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,680,373 shares of the oil and natural gas company’s stock worth $103,419,000 after buying an additional 5,428,350 shares during the period. BlackRock Inc. increased its stake in Denbury Resources by 8.4% during the 2nd quarter. BlackRock Inc. now owns 57,077,113 shares of the oil and natural gas company’s stock worth $274,540,000 after buying an additional 4,411,023 shares during the period. FMR LLC increased its stake in Denbury Resources by 17.6% during the 2nd quarter. FMR LLC now owns 21,799,417 shares of the oil and natural gas company’s stock worth $104,854,000 after buying an additional 3,266,213 shares during the period. Finally, United Services Automobile Association increased its stake in Denbury Resources by 3,094.8% during the 2nd quarter. United Services Automobile Association now owns 1,989,670 shares of the oil and natural gas company’s stock worth $21,966,000 after buying an additional 1,927,392 shares during the period. 93.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CAO James S. Matthews sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 459,949 shares of the company’s stock, valued at approximately $2,235,352.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, November 8th. The oil and natural gas company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $395.00 million during the quarter, compared to the consensus estimate of $348.39 million. Denbury Resources had a net margin of 18.81% and a return on equity of 27.79%. The company’s revenue was up 48.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 EPS. On average, equities analysts expect that Denbury Resources Inc. will post 0.48 EPS for the current year.
Several equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Denbury Resources from $1.30 to $4.60 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Zacks Investment Research reaffirmed a “buy” rating and set a $3.75 price target on shares of Denbury Resources in a research note on Tuesday, November 13th. Johnson Rice raised shares of Denbury Resources from a “hold” rating to an “accumulate” rating in a research note on Wednesday, August 15th. ValuEngine downgraded shares of Denbury Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, Oppenheimer began coverage on shares of Denbury Resources in a research report on Wednesday, October 3rd. They issued an “outperform” rating and a $9.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Denbury Resources currently has a consensus rating of “Hold” and a consensus target price of $4.84.
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Denbury Resources Company 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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