The Nationwide Fund Advisors Cuts Stake in Denbury Resources Inc. (DNR)

The Nationwide Fund Advisors Cuts Stake in Denbury Resources Inc. (DNR)

Other large investors have also recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Denbury Resources during the first quarter worth about $113,000. Hartford Investment Management Co. increased its stake in shares of Denbury Resources by 20.4% in the first quarter. Hartford Investment Management Co. now owns 98,370 shares of the oil and natural gas company’s stock worth $254,000 after buying an additional 16,700 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Denbury Resources by 64.7% in the first quarter. Louisiana State Employees Retirement System now owns 162,200 shares of the oil and natural gas company’s stock worth $418,000 after buying an additional 63,700 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of 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 during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Denbury Resources by 8.0% in the first quarter. Bank of Montreal Can now owns 860,915 shares of the oil and natural gas company’s stock worth $2,221,000 after buying an additional 64,130 shares during the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

Nationwide Fund Advisors reduced its position in Denbury Resources Inc. (NYSE:DNR) by 51.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 695,571 shares of the oil and natural gas company’s stock after selling 751,524 shares during the period. Nationwide Fund Advisors’ holdings in Denbury Resources were worth $1,795,000 at the end of the most recent quarter.

Denbury Resources Inc. (NYSE DNR) opened at 1.43 on Monday. The firm has a 50-day moving average of $1.95 and a 200-day moving average of $2.89. Denbury Resources Inc. has a 1-year low of $1.40 and a 1-year high of $4.74. The stock’s market capitalization is $556.84 million.

Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Thursday, May 4th. The oil and natural gas company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.01. Denbury Resources had a negative net margin of 151.55% and a positive return on equity of 1.82%. The firm had revenue of $264 million for the quarter, compared to analysts’ expectations of $254.67 million. During the same period in the prior year, the firm earned ($0.03) EPS. Denbury Resources’s revenue for the quarter was up 35.5% compared to the same quarter last year. Equities analysts expect that Denbury Resources Inc. will post $0.15 EPS for the current fiscal year.

A number of brokerages have issued reports on DNR. ValuEngine downgraded shares of Denbury Resources from a “hold” rating to a “sell” rating in a research report on Friday. Credit Suisse Group AG reaffirmed an “underperform” rating and issued a $2.00 price objective on shares of Denbury Resources in a research report on Friday. KLR Group reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Denbury Resources in a research report on Wednesday, March 15th. Finally, Zacks Investment Research downgraded shares of Denbury Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $3.13.

In other news, Director Greg Mcmichael sold 16,000 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $2.23, for a total value of $35,680.00. Following the transaction, the director now owns 73,379 shares of the company’s stock, valued at $163,635.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.86% of the stock is currently owned by insiders. About Denbury Resources

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DNR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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