Millennium Management LLC grew its position in shares of Denbury Resources Inc. (NYSE:DNR) by 97.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,039,979 shares of the oil and natural gas company’s stock after acquiring an additional 2,484,341 shares during the quarter. Millennium Management LLC owned about 1.09% of Denbury Resources worth $8,618,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M Holdings Securities Inc. purchased a new position in shares of Denbury Resources during the fourth quarter valued at approximately $25,000. Voloridge Investment Management LLC purchased a new position in shares of Denbury Resources during the fourth quarter valued at approximately $1,930,000. Alpine Associates Management Inc. purchased a new position in shares of Denbury Resources during the fourth quarter valued at approximately $611,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Denbury Resources during the fourth quarter valued at approximately $276,000. Finally, Gotham Asset Management LLC boosted its position in shares of Denbury Resources by 9.5% during the fourth quarter. Gotham Asset Management LLC now owns 120,661 shares of the oil and natural gas company’s stock valued at $206,000 after buying an additional 10,491 shares during the last quarter. Hedge funds and other institutional investors own 89.56% of the company’s stock.
DNR stock opened at $2.41 on Wednesday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.81 and a current ratio of 0.81. Denbury Resources Inc. has a 1-year low of $1.39 and a 1-year high of $6.75. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 5.02 and a beta of 3.58.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Wednesday, February 27th. The oil and natural gas company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Denbury Resources had a return on equity of 23.95% and a net margin of 21.90%. The firm had revenue of $336.00 million for the quarter, compared to analysts’ expectations of $329.65 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Denbury Resources Inc. will post 0.45 earnings per share for the current year.
In other news, insider Christian S. Kendall purchased 150,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were purchased at an average price of $2.00 per share, with a total value of $300,000.00. Following the transaction, the insider now directly owns 1,751,765 shares of the company’s stock, valued at $3,503,530. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Wednesday, January 23rd. Imperial Capital set a $2.00 target price on Denbury Resources and gave the company a “hold” rating in a research report on Thursday, March 28th. TheStreet raised Denbury Resources from a “d+” rating to a “c” rating in a research report on Monday, December 17th. Oppenheimer reissued a “hold” rating on shares of Denbury Resources in a research report on Thursday, March 21st. Finally, Johnson Rice cut Denbury Resources from an “accumulate” rating to a “hold” rating in a research report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $4.36.
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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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