Denbury Resources Inc. (NYSE:DNR)
Investors with Long Positions (as of June 30): 17
Aggregate Value of Investors’ Holdings (as of June 30): $102.57 Million
The significant drop in oil prices over the last year has weighed heavily on Denbury Resources Inc. (NYSE:DNR), causing its stock to tumble by more than 80% in the past 12 months and 12% in the second quarter. Although the company currently pays a quarterly dividend of $0.06 per share, which represents an annual dividend yield of 7.76%, it’s unclear as to how long it will continue paying dividends when one takes into account that in the past almost 20 years of it being a public company, it started paying a dividend only last year. This could possibly explain why the number of hedge funds that counted the company as one of their holdings declined by seven during the April-June period and the aggregate value of their holdings in the stock dropped by $42.1 million. Among the hedge funds that reduced their stakes in Denbury Resources Inc. (NYSE:DNR) significantly during the second quarter was David E. Shaw‘s firm D.E. Shaw, which sold 1.46 million shares of the company to bring its total holding down to slightly over 1.8 million shares.
DHT Holdings Inc (NYSE:DHT)
Investors with Long Positions (as of June 30): 33
Aggregate Value of Investors’ Holdings (as of June 30): $294.10 Million
Moving on, crude oil carrier operator DHT Holdings Inc (NYSE:DHT) saw the number of hedge funds that were long in the stock decline from 40 and the aggregate value of hedge funds’ holdings go down from almost $346.9 million at the end of March, even though the shares of the company actually rose by 11.35% during the April-June period. DHT Holdings raised its dividend payout for the first quarter of this year to $0.05 per share from $0.02 per share earlier and subsequently increased it to $0.15 per share, which at current market price translates into an annual dividend yield of 8.0%. Soros Fund Management, the family office of legendary hedge fund manager George Soros, was the third-largest shareholder of DHT Holdings Inc (NYSE:DHT) at the end of June among the funds tracked by us, owning over 2.94 million shares.
Blackstone Group LP (NYSE:BX)
Investors with Long Positions (as of June 30): 34
Aggregate Value of Investors’ Holdings (as of June 30): $462.72 Million
2015 is turning out to be a difficult year for alternative asset management behemoth Blackstone Group LP (NYSE:BX). After rising by almost 29% during the first five months of the year, shares of the company have gradually declined since then and are now trading up by a paltry 1.83% year-to-date. The number of hedge funds that owned the stock declined by eight during the April-June period, while the aggregate value of investors’ holdings in the company dropped by 4.7% quarter-over-quarter, despite a 7.4% rise in Blackstone Group’s stock during the second quarter. Even though Blackstone Group LP (NYSE:BX) has reduced its quarterly dividend payout to $0.74 per share from $0.89 last quarter, at current market price the quarterly dividend still translates into an impressive annual dividend yield of 8.25%. Robert Joseph Caruso‘s Select Equity Group was one of the hedge funds that reduced its stake in the company during the second quarter, by 17%, and held slightly above 1.96 million shares on June 30.
Disclosure: None
