MetLife Investment Management LLC Has $2.31 Million Stock Position in Denbury Inc. (NYSE:DEN)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC increased its position in Denbury Inc. (NYSE:DEN – Get Rating) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,819 shares of the company’s stock after purchasing an additional 172 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of Denbury worth $2,313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cutler Group LLC CA increased its position in Denbury by 300.0% in the third quarter. Cutler Group LLC CA now owns 400 shares of the company’s stock worth $34,000 after purchasing an additional 300 shares during the period. Clear Street Markets LLC acquired a new position in shares of Denbury during the 3rd quarter worth about $43,000. Captrust Financial Advisors grew its position in shares of Denbury by 31.8% during the 2nd quarter. Captrust Financial Advisors now owns 527 shares of the company’s stock worth $32,000 after buying an additional 127 shares during the period. Xponance Inc. acquired a new position in shares of Denbury during the 3rd quarter worth about $268,000. Finally, Pictet Asset Management SA acquired a new position in shares of Denbury during the 3rd quarter worth about $274,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DEN. 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 for the company. Citigroup boosted their target price on Denbury from $81.00 to $112.00 in a research report on Wednesday, December 7th. Finally, Roth Capital reiterated a “buy” rating on shares of Denbury in a report on Thursday. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.43.

Denbury Trading Up 2.0 %

NYSE DEN opened at $81.83 on Friday. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 9.24 and a beta of 2.64. The stock’s 50 day moving average price is $85.41 and its two-hundred day moving average price is $87.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 0.65. Denbury Inc. has a 52 week low of $56.59 and a 52 week high of $104.05.

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

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.