A.R.T. Advisors LLC increased its holdings in Denbury Resources Inc. (NYSE:DNR) by 263.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 471,291 shares of the oil and natural gas company’s stock after acquiring an additional 341,567 shares during the quarter. A.R.T. Advisors LLC owned approximately 0.11% of Denbury Resources worth $1,291,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in DNR. HBK Investments L P purchased a new stake in Denbury Resources in the fourth quarter worth about $144,000. Two Sigma Advisers LP purchased a new stake in shares of Denbury Resources during the fourth quarter valued at about $163,000. Resource Management LLC purchased a new stake in shares of Denbury Resources during the first quarter valued at about $175,000. OTA Financial Group L.P. purchased a new stake in shares of Denbury Resources during the fourth quarter valued at about $224,000. Finally, Virtu Financial LLC lifted its position in shares of Denbury Resources by 81.2% during the fourth quarter. Virtu Financial LLC now owns 101,395 shares of the oil and natural gas company’s stock valued at $224,000 after buying an additional 45,431 shares during the last quarter. 78.28% of the stock is owned by institutional investors.
In other news, Director Greg Mcmichael sold 40,000 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $4.25, for a total transaction of $170,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laura A. Sugg sold 12,500 shares of the company’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $3.00, for a total transaction of $37,500.00. Following the transaction, the director now owns 140,841 shares in the company, valued at approximately $422,523. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,000 shares of company stock worth $327,625. Corporate insiders own 1.10% of the company’s stock.
DNR stock opened at $4.72 on Friday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 33.71 and a beta of 3.20. Denbury Resources Inc. has a one year low of $0.92 and a one year high of $4.87. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 4.24.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The business had revenue of $347.57 million during the quarter, compared to analyst estimates of $324.65 million. Denbury Resources had a net margin of 15.01% and a return on equity of 19.63%. The company’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) earnings per share. analysts predict that Denbury Resources Inc. will post 0.37 earnings per share for the current year.
DNR has been the subject of several analyst reports. UBS Group initiated coverage on shares of Denbury Resources in a research report on Wednesday, March 7th. They set a “neutral” rating and a $2.50 price target for the company. Zacks Investment Research raised shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Tuesday, April 24th. Finally, KLR Group lowered shares of Denbury Resources from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research report on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $2.29.
About Denbury Resources
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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