SG Americas Securities LLC decreased its position in shares of Denbury Inc. (NYSE:DEN – Get Rating) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,887 shares of the company’s stock after selling 338 shares during the quarter. SG Americas Securities LLC’s holdings in Denbury were worth $698,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in Denbury during the first quarter worth $46,000. CWM LLC bought a new position in shares of Denbury in the 4th quarter worth about $66,000. CSS LLC IL acquired a new position in shares of Denbury in the 4th quarter valued at about $204,000. Neo Ivy Capital Management bought a new stake in shares of Denbury during the 4th quarter valued at about $274,000. Finally, Envestnet Asset Management Inc. grew its stake in Denbury by 29.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,792 shares of the company’s stock worth $367,000 after purchasing an additional 1,104 shares during the period.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their price target on Denbury from $126.00 to $129.00 in a report on Thursday, May 5th. Citigroup assumed coverage on shares of Denbury in a report on Tuesday, May 10th. They issued a “buy” rating and a $83.00 price target for the company. US Capital Advisors reaffirmed an “overweight” rating on shares of Denbury in a research note on Tuesday, June 14th. MKM Partners reissued a “buy” rating and set a $75.00 price objective on shares of Denbury in a research report on Wednesday, July 20th. Finally, Bank of America lowered Denbury from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $107.00 to $71.00 in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.09.
Denbury Stock Up 2.0 %
Denbury (NYSE:DEN – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.20. The business had revenue of $411.80 million during the quarter, compared to the consensus estimate of $374.55 million. Denbury had a return on equity of 19.79% and a net margin of 8.79%. The company’s quarterly revenue was up 63.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. On average, equities research analysts forecast that Denbury Inc. will post 7.13 EPS for the current fiscal year.
Denbury Inc, an independent energy company, focuses on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The company holds interests in various oil and natural gas properties located in Mississippi, Texas, and Louisiana in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
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