American Century Companies Inc. bought a new stake in shares of Denbury Resources Inc. (NYSE:DNR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 59,313 shares of the oil and natural gas company’s stock, valued at approximately $285,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new position in Denbury Resources during the second quarter worth $6,688,000. SG Americas Securities LLC raised its holdings in Denbury Resources by 294.0% during the second quarter. SG Americas Securities LLC now owns 101,712 shares of the oil and natural gas company’s stock worth $489,000 after buying an additional 75,898 shares during the last quarter. Mackay Shields LLC acquired a new position in Denbury Resources during the second quarter worth $461,000. Rhumbline Advisers raised its holdings in Denbury Resources by 7.5% during the second quarter. Rhumbline Advisers now owns 1,377,238 shares of the oil and natural gas company’s stock worth $6,625,000 after buying an additional 95,664 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Denbury Resources by 891.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 509,388 shares of the oil and natural gas company’s stock worth $2,450,000 after buying an additional 458,027 shares during the last quarter. Hedge funds and other institutional investors own 84.97% of the company’s stock.
In other news, CAO James S. Matthews sold 20,000 shares of the company’s 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 sale, the chief accounting officer now owns 459,949 shares in the company, valued at approximately $2,235,352.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Shares of NYSE DNR traded down $0.02 during trading on Friday, hitting $6.46. The stock had a trading volume of 9,244,694 shares, compared to its average volume of 10,710,588. Denbury Resources Inc. has a 12 month low of $1.04 and a 12 month high of $6.70. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 46.14 and a beta of 3.38.
Denbury Resources (NYSE:DNR) last posted its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Denbury Resources had a net margin of 14.77% and a return on equity of 25.74%. The firm had revenue of $387.06 million during the quarter, compared to analyst estimates of $328.72 million. On average, research analysts anticipate that Denbury Resources Inc. will post 0.48 EPS for the current fiscal year.
DNR has been the topic of several research reports. Johnson Rice upgraded shares of Denbury Resources from a “hold” rating to an “accumulate” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Friday, July 20th. TheStreet upgraded shares of Denbury Resources from a “d” rating to a “c-” rating in a report on Wednesday, August 22nd. KLR Group restated a “hold” rating and set a $5.00 price objective on shares of Denbury Resources in a report on Monday, August 20th. Finally, Stifel Nicolaus upped their price objective on shares of Denbury Resources from $1.30 to $4.60 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Denbury Resources presently has an average rating of “Hold” and an average target price of $4.59.
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.
Further Reading: Technical Analysis
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