Bank of Montreal Can Boosts Position in Denbury Resources Inc. (DNR)

Bank of Montreal Can lifted its position in shares of Denbury Resources Inc. (NYSE:DNR) by 31,154.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,070,480 shares of the oil and natural gas company’s stock after acquiring an additional 1,067,055 shares during the quarter. Bank of Montreal Can’s holdings in Denbury Resources were worth $6,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Denbury Resources by 191.8% in the first quarter. Dimensional Fund Advisors LP now owns 12,946,951 shares of the oil and natural gas company’s stock worth $35,475,000 after buying an additional 8,510,030 shares during the period. BlackRock Inc. increased its position in Denbury Resources by 8.4% in the second quarter. BlackRock Inc. now owns 57,077,113 shares of the oil and natural gas company’s stock worth $274,540,000 after buying an additional 4,411,023 shares during the period. FMR LLC increased its position in Denbury Resources by 17.6% in the second quarter. FMR LLC now owns 21,799,417 shares of the oil and natural gas company’s stock worth $104,854,000 after buying an additional 3,266,213 shares during the period. United Services Automobile Association increased its position in Denbury Resources by 3,094.8% in the second quarter. United Services Automobile Association now owns 1,989,670 shares of the oil and natural gas company’s stock worth $21,966,000 after buying an additional 1,927,392 shares during the period. Finally, Wells Fargo & Company MN increased its position in Denbury Resources by 182.1% in the second quarter. Wells Fargo & Company MN now owns 2,230,528 shares of the oil and natural gas company’s stock worth $10,729,000 after buying an additional 1,439,701 shares during the period. 85.30% of the stock is currently owned by institutional investors and hedge funds.

In other news, CAO James S. Matthews sold 20,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $4.86, for a total value of $97,200.00. Following the completion of the transaction, the chief accounting officer now owns 459,949 shares of the company’s stock, valued at $2,235,352.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.



Several equities research analysts have weighed in on the company. ValuEngine lowered Denbury Resources from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Stifel Nicolaus increased their target price on Denbury Resources from $1.30 to $4.60 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research lowered Denbury Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Johnson Rice raised Denbury Resources from a “hold” rating to an “accumulate” rating in a research report on Wednesday, August 15th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $5.00 target price on shares of Denbury Resources in a research report on Friday, July 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.18.

NYSE:DNR opened at $3.32 on Tuesday. Denbury Resources Inc. has a 1 year low of $1.13 and a 1 year high of $6.75. The firm has a market capitalization of $2.00 billion, a PE ratio of 23.71 and a beta of 3.38. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.04.

Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Denbury Resources had a return on equity of 25.74% and a net margin of 14.77%. The company had revenue of $387.06 million during the quarter, compared to analysts’ expectations of $328.72 million. As a group, sell-side analysts predict that Denbury Resources Inc. will post 0.47 earnings per share for the current year.

Denbury Resources Company Profile

Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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Institutional Ownership by Quarter for Denbury Resources (NYSE:DNR)

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