Pictet Asset Management SA Makes New Investment in Denbury Inc. (NYSE:DEN)

Pictet Asset Management SA acquired a new stake in shares of Denbury Inc. (NYSE:DEN – Get Rating) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,171 shares of the company’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in Denbury by 5.0% during the second 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 during the period. BlackRock Inc. raised its position 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 acquiring an additional 65,352 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Denbury by 58.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,908,334 shares of the company’s stock valued at $174,471,000 after purchasing an additional 1,075,960 shares in the last quarter. State Street Corp boosted its position in Denbury by 23.6% during the first quarter. State Street Corp now owns 2,306,974 shares of the company’s stock valued at $181,259,000 after purchasing an additional 440,841 shares in the last quarter. Finally, Discovery Capital Management LLC CT grew its stake in Denbury by 2.4% in the second quarter. Discovery Capital Management LLC CT now owns 1,532,683 shares of the company’s stock valued at $91,946,000 after purchasing an additional 36,100 shares during the last quarter.

Denbury Price Performance

Shares of DEN opened at $84.21 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.59 and a quick ratio of 0.59. The company’s fifty day moving average price is $85.26 and its 200-day moving average price is $87.83. Denbury Inc. has a 1-year low of $56.59 and a 1-year high of $104.05. The firm has a market capitalization of $4.20 billion, a PE ratio of 9.50 and a beta of 2.64.

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). The firm had revenue of $381.20 million for the quarter, compared to analysts’ expectations of $386.50 million. Denbury had a net margin of 28.00% and a return on equity of 27.32%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, equities research analysts predict that Denbury Inc. will post 8.13 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America began coverage on shares of Denbury in a report on Thursday, December 15th. They issued an “underperform” rating and a $73.00 price target on the stock. Citigroup upped their price target on Denbury from $81.00 to $112.00 in a research report on Wednesday, December 7th. Finally, Roth Capital reissued a “buy” rating on shares of Denbury in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.43.

About Denbury

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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.