Bank of Montreal Can bought a new position in Denbury Resources Inc. (NYSE:DNR) during the second quarter, Holdings Channel reports. The firm bought 1,252,006 shares of the company’s stock, valued at approximately $4,495,000.
A number of other hedge funds have also recently made changes to their positions in DNR. BlackRock Institutional Trust Company N.A. raised its stake in shares of Denbury Resources by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 10,426,953 shares of the company’s stock worth $23,148,000 after buying an additional 161,984 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Denbury Resources during the second quarter worth about $7,140,000. Canada Pension Plan Investment Board raised its stake in shares of Denbury Resources by 11.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,870,130 shares of the company’s stock worth $4,152,000 after buying an additional 194,479 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Denbury Resources by 48.0% in the first quarter. TIAA CREF Investment Management LLC now owns 1,630,232 shares of the company’s stock worth $3,619,000 after buying an additional 528,379 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Denbury Resources by 81.0% in the first quarter. UBS Asset Management Americas Inc. now owns 924,772 shares of the company’s stock worth $2,052,000 after buying an additional 413,726 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.
Denbury Resources Inc. (NYSE:DNR) traded down 4.10% during midday trading on Thursday, reaching $2.81. 12,069,425 shares of the company traded hands. The firm has a 50 day moving average of $3.03 and a 200-day moving average of $3.36. The stock’s market capitalization is $1.04 billion. Denbury Resources Inc. has a 12 month low of $0.86 and a 12 month high of $4.80.
Denbury Resources (NYSE:DNR) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The business earned $255.15 million during the quarter, compared to the consensus estimate of $285.70 million. Denbury Resources had a negative net margin of 361.13% and a positive return on equity of 6.04%. Denbury Resources’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. Analysts forecast that Denbury Resources Inc. will post ($0.01) EPS for the current fiscal year.
DNR has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research report on Wednesday, August 10th. Stifel Nicolaus upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Mizuho began coverage on shares of Denbury Resources in a report on Wednesday, October 5th. They issued a “neutral” rating and a $3.00 price target on the stock. Finally, Barclays PLC lowered shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $3.00 to $2.50 in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $2.51.
In related news, Director Greg Mcmichael sold 10,000 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the sale, the director now directly owns 89,379 shares of the company’s stock, valued at approximately $279,756.27. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.86% of the company’s stock.
Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its 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.
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