Dimensional Fund Advisors LP Has $22 Million Stake in Denbury Resources Inc. (DNR)
Dimensional Fund Advisors LP increased its position in Denbury Resources Inc. (NYSE:DNR) by 146.4% during the first quarter, Holdings Channel reports. The institutional investor owned 8,529,233 shares of the oil and natural gas company’s stock after buying an additional 5,067,230 shares during the period. Dimensional Fund Advisors LP’s holdings in Denbury Resources were worth $22,004,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of DNR. Cambridge Investment Research Advisors Inc. raised its stake in Denbury Resources by 15.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,796 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 5,900 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Denbury Resources during the first quarter worth $113,000. Thrivent Financial for Lutherans raised its stake in Denbury Resources by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 67,910 shares of the oil and natural gas company’s stock worth $250,000 after buying an additional 5,760 shares in the last quarter. Capstone Asset Management Co. raised its stake in Denbury Resources by 195.5% in the first quarter. Capstone Asset Management Co. now owns 71,238 shares of the oil and natural gas company’s stock worth $184,000 after buying an additional 47,130 shares in the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in Denbury Resources by 29.4% in the first quarter. Virginia Retirement Systems ET AL now owns 73,653 shares of the oil and natural gas company’s stock worth $190,000 after buying an additional 16,753 shares in the last quarter. Institutional investors own 90.26% of the company’s stock.
Denbury Resources Inc. (NYSE DNR) opened at 1.47 on Thursday. The company has a 50 day moving average price of $1.46 and a 200 day moving average price of $2.16. The firm’s market capitalization is $573.16 million. Denbury Resources Inc. has a 52-week low of $1.27 and a 52-week high of $4.29.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.87%. The firm had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $248.66 million. During the same period in the previous year, the company earned $0.08 earnings per share. Denbury Resources’s quarterly revenue was up 2.4% compared to the same quarter last year.
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A number of research firms have weighed in on DNR. UBS AG restated a “sell” rating and set a $1.50 target price (down previously from $2.00) on shares of Denbury Resources in a report on Friday, May 5th. BidaskClub upgraded Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine lowered Denbury Resources from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.50 price target on shares of Denbury Resources in a research report on Friday, July 14th. Finally, Zacks Investment Research downgraded Denbury Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 18th. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $2.64.
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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