Denbury Resources (DNR) Stock Falls on Lower Oil Prices

Denbury Resources (DNR) stock is retreating on Tuesday afternoon alongside oil prices ahead of U.S. stockpile data.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Denbury Resources (DNR) - Get Report are dropping 1.99% to $3.20 in early Tuesday afternoon as oil prices trade in the red.

Crude oil (WTI) is down 0.8% to $44.88 per barrel and Brent crude is decreasing 0.36% to $46.79 per barrel this afternoon.

Oil prices are slightly lower this afternoon ahead of U.S. stockpile data.

The American Petroleum Institute will release its inventory report later today before official data from the U.S. government tomorrow.

But forecasts for a ninth consecutive weekly decline in U.S. crude supplies are offsetting a rallying dollar and a global fuel oversupply today, according to Reuters.

A protest over wages closed the eastern Libyan oil terminal Hariga and caused the suspension of 100,000 barrels per day of crude output, which also helped the market limit losses, traders noted.

A Reuters poll showed U.S. crude stockpiles likely dropped by 2.2 million barrels last week.

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

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