NEW YORK (TheStreet) -- Shares of Denbury Resources (DNR) - Get Report were gaining in mid-afternoon trading on Monday on rising oil prices as investors speculate that OPEC would reach an agreement about production levels this week.
OPEC delegates and other major producers like Russia are meeting in Algeria this week during the International Energy Forum to discuss steps to support prices.
Analysts have been considering whether the group will reach an agreement to freeze output levels, and yesterday Algeria's Energy Minister Noureddine Bouterfa said he would not leave the meeting "empty-handed," Reuters reports.
OPEC countries pumped near a multi-year high of 33.24 million barrels in August, according to Reuters.
The International Energy Forum will run through Wednesday.
Crude oil (WTI) was higher by 3.57% to $46.07 per barrel while Brent crude was up 3.27% to $47.39 per barrel this afternoon.
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 rated 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 and weak operating cash flow.
You can view the full analysis from the report here: DNR