Will Denbury Resources (DNR) Stock Be Helped by Higher Oil Prices?
NEW YORK (TheStreet) -- Shares of Denbury Resources (DNR) - Get Report are slipping 4.83% to $3.25 on Friday afternoon even as oil prices are set for a second straight weekly gain.
Crude oil (WTI) is increasing 0.53% to $45.92 per barrel and Brent crude is up 0.59% to $47.65 per barrel this afternoon.
U.S. drillers added oil rigs for a sixth week of the last seven, according to data from Baker Hughes (BHI). The number of oil rigs operating in the U.S. increased by 6 to 357 vs. 638 last year.
Increases have prompted analysts to expect that the U.S. oil rig count has bottomed and output will start to rise by early next year, Reuters noted.
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