FORA Capital LLC acquired a new position in shares of Denbury Inc. (NYSE:DEN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,416 shares of the company’s stock, valued at approximately $116,000.
Several other institutional investors also recently made changes to their positions in DEN. Bank of New York Mellon Corp bought a new stake in shares of Denbury during the 4th quarter worth approximately $754,000. Northern Trust Corp raised its stake in shares of Denbury by 257.2% during the 4th quarter. Northern Trust Corp now owns 124,203 shares of the company’s stock worth $3,190,000 after purchasing an additional 89,428 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Denbury in the 4th quarter valued at $439,000. Charles Schwab Investment Management Inc. bought a new stake in Denbury in the 4th quarter valued at $5,785,000. Finally, ExodusPoint Capital Management LP raised its stake in Denbury by 698.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 184,312 shares of the company’s stock valued at $4,735,000 after acquiring an additional 161,239 shares during the period. Institutional investors own 94.22% of the company’s stock.
A number of equities research analysts recently weighed in on the company. KeyCorp increased their price target on Denbury from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Zacks Investment Research upgraded Denbury from a “hold” rating to a “strong-buy” rating and set a $82.00 price target on the stock in a research note on Friday, July 9th. Stifel Nicolaus assumed coverage on Denbury in a research note on Thursday, June 24th. They issued a “buy” rating and a $93.00 price target on the stock. Siebert Williams Shank assumed coverage on Denbury in a research note on Friday, June 11th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Roth Capital cut Denbury from a “buy” rating to a “neutral” rating and increased their price target for the company from $57.00 to $78.75 in a research note on Wednesday, July 7th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $78.79.
Denbury (NYSE:DEN) last released its earnings results on Thursday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.16. The company had revenue of $251.16 million for the quarter, compared to analyst estimates of $198.82 million. Denbury had a negative return on equity of 146.78% and a negative net margin of 214.16%. Equities analysts forecast that Denbury Inc. will post 2 earnings per share 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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