Hsbc Holdings PLC Invests $4.11 Million in Denbury Inc. (NYSE:DEN)

Posted by on Feb 26th, 2023

Hsbc Holdings PLC acquired a new position in Denbury Inc. (NYSE:DEN – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 48,145 shares of the company’s stock, valued at approximately $4,110,000. Hsbc Holdings PLC owned approximately 0.10% of Denbury as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC raised its stake in shares of Denbury by 5.0% in the 2nd quarter. FMR LLC now owns 6,530,141 shares of the company’s stock worth $391,743,000 after buying an additional 308,968 shares in the last quarter. BlackRock Inc. raised its stake in shares of Denbury by 2.0% in the 1st quarter. BlackRock Inc. now owns 3,401,112 shares of the company’s stock worth $267,227,000 after buying an additional 65,352 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Denbury by 58.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,908,334 shares of the company’s stock worth $174,471,000 after buying an additional 1,075,960 shares in the last quarter. State Street Corp raised its stake in shares of Denbury by 23.6% in the 1st quarter. State Street Corp now owns 2,306,974 shares of the company’s stock worth $181,259,000 after buying an additional 440,841 shares in the last quarter. Finally, Discovery Capital Management LLC CT raised its stake in shares of Denbury by 2.4% in the 2nd quarter. Discovery Capital Management LLC CT now owns 1,532,683 shares of the company’s stock worth $91,946,000 after buying an additional 36,100 shares in the last quarter.

Denbury Stock Up 2.0 %

NYSE:DEN opened at $81.83 on Friday. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 9.24 and a beta of 2.64. Denbury Inc. has a 1-year low of $56.59 and a 1-year high of $104.05. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $85.41 and its 200 day moving average price is $87.75.

Denbury (NYSE:DEN – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.13). Denbury had a net margin of 28.00% and a return on equity of 28.63%. The business had revenue of $381.20 million for the quarter, compared to analyst estimates of $386.50 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Denbury Inc. will post 8.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DEN. Citigroup boosted their target price on Denbury from $81.00 to $112.00 in a research report on Wednesday, December 7th. Roth Capital reaffirmed a “buy” rating on shares of Denbury in a research report on Thursday. Finally, Bank of America began coverage on Denbury in a research report on Thursday, December 15th. They set an “underperform” rating and a $73.00 target price on the stock. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat, Denbury currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.43.

Denbury Company Profile

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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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Institutional Ownership by Quarter for Denbury (NYSE:DEN)

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