Denbury Resources (DNR) Stock Down as Oil Prices Retreat

Oil is falling this afternoon amid concerns of a global glut, negatively impacting Denbury Resources (DNR) stock.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Denbury Resources (DNR) - Get Report  are falling 4.15% to $3 in late-afternoon trade as oil prices slide.

Concern is growing of a massive global oil glut, fueled by speculation that Iraq's oil exports are looking to rise in July, CNBC reports.

U.S. oil stockpiles are also rising, climbing to a historical high of 5.9 million barrels. The Baker Hughes (BHI) rig count, released earlier today, revealed that U.S. drillers added 15 new rigs this past week to bring the operating rig total to 462.

Crude oil (WTI) is down 1.12% to $45.25 per barrel this afternoon, with Brent crude trailing 1.04% to $45.72 per barrel.

Denbury Resources is a Plano, TX-based independent oil and natural gas company.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "sell" with a ratings score of D-.

The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and deteriorating net income.

You can view the full analysis from the report here: DNR

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