Denbury Resources (DNR) Stock Down on Lower Oil Prices
NEW YORK (TheStreet) --Shares of Denbury Resources (DNR) - Get Report are decreasing 0.77% to $3.24 late Monday afternoon as oil prices trade in the red.
Crude oil (WTI) is sliding 1.22% to $45.39 per barrel and Brent crude is retreating 1.09% to $47.09 per barrel this afternoon.
Oil prices are falling today as increasing supplies of crude and refined fuel heightened concerns for another major glut building, Reuters reports.
Market intelligence firm Genscape said the Cushing, OK delivery hub for U.S. crude futures saw an increase of 26,460 barrels last week, according to traders.
Morgan Stanley (MS) still expects a supply-demand rebalancing in oil by mid next year, but noted that fundamental headwinds were growing the market, Reuters added.
"Tail risks are admittedly large in both directions, as geopolitics add to uncertainty," the firm said.
Denbury Resources is a Plano, TX-based oil and natural gas company.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D- on the stock.
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.
Recently, 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.
You can view the full analysis from the report here: DNR