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NEW YORK (TheStreet) -- Shares of Denbury Resources (DNR) were rising in late-afternoon trading on Tuesday as oil prices increased.

Crude oil (WTI) was up 1.46% to $48.10 per barrel and Brent crude was higher by 1.63% to $49.96 per barrel this afternoon.

Oil prices rebounded this afternoon as Iran gave positive signals that it may support joint OPEC action to rebalance the market, Reuters reports.

Iran is the third biggest oil producer in OPEC and has been bolstering its production since Western sanctions were lifted early this year.

While the country has not said if it will join an attempt to reduce production at an OPEC meeting in September, Tehran looks to be more willing to reach an understanding on the situation, sources told Reuters.

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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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