Geode Capital Management LLC Acquires 346,183 Shares of Denbury Resources (DNR)

Geode Capital Management LLC lifted its holdings in Denbury Resources (NYSE:DNR) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,498,637 shares of the oil and natural gas company’s stock after buying an additional 346,183 shares during the quarter. Geode Capital Management LLC owned approximately 0.87% of Denbury Resources worth $7,731,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DNR. Schroder Investment Management Group purchased a new stake in shares of Denbury Resources in the 3rd quarter worth about $184,000. Virtu Financial LLC grew its position in shares of Denbury Resources by 81.2% in the 4th quarter. Virtu Financial LLC now owns 101,395 shares of the oil and natural gas company’s stock worth $224,000 after buying an additional 45,431 shares during the period. SG Americas Securities LLC grew its position in shares of Denbury Resources by 495.9% in the 3rd quarter. SG Americas Securities LLC now owns 180,700 shares of the oil and natural gas company’s stock worth $242,000 after buying an additional 150,377 shares during the period. Teacher Retirement System of Texas grew its position in shares of Denbury Resources by 284.0% in the 4th quarter. Teacher Retirement System of Texas now owns 128,170 shares of the oil and natural gas company’s stock worth $283,000 after buying an additional 94,792 shares during the period. Finally, Anderson Hoagland & Co. grew its position in shares of Denbury Resources by 119.2% in the 4th quarter. Anderson Hoagland & Co. now owns 149,350 shares of the oil and natural gas company’s stock worth $330,000 after buying an additional 81,205 shares during the period. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Denbury Resources stock opened at $2.95 on Friday. The stock has a market capitalization of $1,205.76, a P/E ratio of 21.07 and a beta of 3.15. Denbury Resources has a 1 year low of $0.92 and a 1 year high of $3.23. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 4.60.

Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, February 22nd. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.05. The company had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $310.27 million. Denbury Resources had a net margin of 14.44% and a return on equity of 10.20%. Denbury Resources’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. analysts expect that Denbury Resources will post 0.44 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Denbury Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. ValuEngine downgraded shares of Denbury Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. UBS began coverage on shares of Denbury Resources in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $2.50 target price on the stock. Mizuho upgraded shares of Denbury Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $2.00 price target on shares of Denbury Resources in a research note on Wednesday, December 20th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $1.82.

In related news, Director Laura A. Sugg sold 12,500 shares of the company’s stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $2.80, for a total value of $35,000.00. Following the transaction, the director now owns 153,341 shares in the company, valued at approximately $429,354.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

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Denbury Resources 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.

Institutional Ownership by Quarter for Denbury Resources (NYSE:DNR)

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