Everence Capital Management Inc. Raises Stake in Denbury Resources Inc. (NYSE:DNR)

Everence Capital Management Inc. boosted its position in Denbury Resources Inc. (NYSE:DNR) by 117.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,990 shares of the oil and natural gas company’s stock after buying an additional 92,990 shares during the quarter. Everence Capital Management Inc.’s holdings in Denbury Resources were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp boosted its stake in Denbury Resources by 2.3% in the second quarter. Northern Trust Corp now owns 5,833,808 shares of the oil and natural gas company’s stock worth $7,234,000 after buying an additional 130,044 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Denbury Resources by 57.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 256,560 shares of the oil and natural gas company’s stock worth $318,000 after buying an additional 93,580 shares in the last quarter. First Trust Advisors LP boosted its stake in Denbury Resources by 436.5% in the second quarter. First Trust Advisors LP now owns 1,179,148 shares of the oil and natural gas company’s stock worth $1,462,000 after buying an additional 959,380 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in Denbury Resources by 42.3% in the second quarter. Sunbelt Securities Inc. now owns 274,130 shares of the oil and natural gas company’s stock worth $340,000 after buying an additional 81,465 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Denbury Resources by 37.2% in the second quarter. SG Americas Securities LLC now owns 297,826 shares of the oil and natural gas company’s stock worth $369,000 after buying an additional 80,770 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on DNR. Royal Bank of Canada set a $2.00 target price on Denbury Resources and gave the stock a “hold” rating in a research note on Monday, August 12th. UBS Group set a $2.00 target price on Denbury Resources and gave the stock a “hold” rating in a research note on Thursday, June 20th. Finally, ValuEngine raised Denbury Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Denbury Resources presently has an average rating of “Hold” and a consensus target price of $3.54.

Shares of NYSE:DNR remained flat at $$1.05 during trading on Wednesday. The stock had a trading volume of 211,415 shares, compared to its average volume of 13,087,644. The stock has a market capitalization of $493.14 million, a price-to-earnings ratio of 2.19 and a beta of 3.37. Denbury Resources Inc. has a 52-week low of $0.87 and a 52-week high of $6.75. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.98. The firm’s 50-day simple moving average is $1.16 and its two-hundred day simple moving average is $1.48.

Denbury Resources (NYSE:DNR) last released its quarterly earnings data on Wednesday, August 7th. The oil and natural gas company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $343.36 million during the quarter, compared to analyst estimates of $331.52 million. Denbury Resources had a return on equity of 18.67% and a net margin of 27.05%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share. On average, research analysts forecast that Denbury Resources Inc. will post 0.41 EPS for the current year.

Denbury Resources 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.

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

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