Sailingstone Capital Partners Lowers stake in Denbury Resources (DNR)

Denbury Resources (DNR) : Sailingstone Capital Partners reduced its stake in Denbury Resources by 0.21% during the most recent quarter end. The investment management company now holds a total of 42,417,905 shares of Denbury Resources which is valued at $122,163,566 after selling 91,350 shares in Denbury Resources , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Denbury Resources makes up approximately 2.61% of Sailingstone Capital Partners’s portfolio.

Other Hedge Funds, Including , Voya Investment Management boosted its stake in DNR in the latest quarter, The investment management firm added 33,888 additional shares and now holds a total of 149,691 shares of Denbury Resources which is valued at $431,110.Blackrock Investment Management boosted its stake in DNR in the latest quarter, The investment management firm added 1,296,995 additional shares and now holds a total of 2,310,294 shares of Denbury Resources which is valued at $6,653,647. Denbury Resources makes up approx 0.01% of Blackrock Investment Management’s portfolio. Dekabank Deutsche Girozentrale added DNR to its portfolio by purchasing 28,569 company shares during the most recent quarter which is valued at $86,278. Quadrant Capital Group added DNR to its portfolio by purchasing 419 company shares during the most recent quarter which is valued at $1,215.

Denbury Resources closed down -0.19 points or -6.17% at $2.89 with 1,28,44,940 shares getting traded on Thursday. Post opening the session at $3, the shares hit an intraday low of $2.86 and an intraday high of $3.1 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Denbury Resources reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.02. The company had revenue of $255.10 million for the quarter, compared to analysts expectations of $299.91 million. The company’s revenue was down -32.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on Denbury Resources. Shares were Downgraded by Barclays on Aug 10, 2016 to ” Underweight” and Lowered the Price Target to $ 2.50 from a previous price target of $3 .Denbury Resources was Upgraded by Stifel to ” Hold” on Jun 15, 2016.

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. The Company’s 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. The Company’s primary Gulf Coast CO2 source is Jackson Dome. The Company’s mature group of properties includes the initial CO2 field Little Creek as well as several other fields including Brookhaven Cranfield Eucutta Lockhart Crossing Mallalieu Martinville McComb and Soso fields. The Company also holds interest in the 183-mile NEJD CO2 pipeline that runs from Jackson Dome to near Donaldsonville Louisiana.

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