State of New Jersey Common Pension Fund D decreased its holdings in shares of Denbury Resources Inc. (NYSE:DNR) by 98.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 67,209 shares of the oil and natural gas company’s stock after selling 5,100,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Denbury Resources were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position in Denbury Resources by 50.0% in the 2nd quarter. D.A. Davidson & CO. now owns 30,000 shares of the oil and natural gas company’s stock worth $37,000 after purchasing an additional 10,000 shares during the last quarter. Mackenzie Financial Corp bought a new position in Denbury Resources in the 2nd quarter worth about $40,000. Pensionmark Financial Group LLC grew its position in Denbury Resources by 67.3% in the 2nd quarter. Pensionmark Financial Group LLC now owns 43,500 shares of the oil and natural gas company’s stock worth $44,000 after purchasing an additional 17,500 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Denbury Resources by 26.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 61,498 shares of the oil and natural gas company’s stock worth $73,000 after purchasing an additional 12,931 shares during the last quarter. Finally, Callahan Advisors LLC grew its position in Denbury Resources by 32.3% in the 2nd quarter. Callahan Advisors LLC now owns 63,500 shares of the oil and natural gas company’s stock worth $79,000 after purchasing an additional 15,500 shares during the last quarter. Hedge funds and other institutional investors own 74.38% of the company’s stock.
DNR has been the subject of several recent analyst reports. Royal Bank of Canada set a $2.00 target price on shares of Denbury Resources and gave the stock a “hold” rating in a research report on Monday, August 12th. Imperial Capital set a $1.00 price objective on shares of Denbury Resources and gave the company a “hold” rating in a report on Friday, October 18th. Finally, ValuEngine upgraded shares of Denbury Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Denbury Resources has a consensus rating of “Hold” and a consensus price target of $3.38.
DNR stock traded down $0.01 on Tuesday, hitting $1.09. 3,277,341 shares of the company’s stock traded hands, compared to its average volume of 11,835,347. Denbury Resources Inc. has a 1-year low of $0.87 and a 1-year high of $3.13. The stock has a market cap of $526.02 million, a price-to-earnings ratio of 2.26 and a beta of 3.38. The stock has a fifty day moving average of $1.10 and a 200-day moving average of $1.30. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.98.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, November 7th. The oil and natural gas company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Denbury Resources had a net margin of 28.28% and a return on equity of 16.30%. The business had revenue of $315.45 million during the quarter, compared to analyst estimates of $307.85 million. During the same period in the prior year, the business earned $0.13 earnings per share. The business’s quarterly revenue was down 20.1% on a year-over-year basis. On average, equities research analysts anticipate that Denbury Resources Inc. will post 0.39 earnings per share for the current fiscal year.
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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