Crude oil (WTI) was slumping 1.17% to $46.43 per barrel and Brent crude was decreasing 1.68% to $48.43 per barrel this afternoon.
Oil prices were pressured by a rallying dollar today. Commodities denominated in dollars are more expensive to foreign currency holders when the greenback is strong.
Additionally, glut concerns increased amid forecasts for growing U.S. crude stockpiles and Iran's comment that it was set to hit peak output, Reuters reports.
"Today is just another economic story that's fed the dollar's strength and with the weekly build expected in U.S. crude, prices are getting a double whammy," Tariq Zahir, a trader at Tyche Capital Advisors, told Reuters.
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