Crude oil (WTI) was up 2.76% to $44.35 per barrel while Brent crude was climbing 2.75% to $46.70 per barrel this morning.
Oil prices were rising on a weaker dollar today following a Labor Department report revealing slowing U.S. jobs growth for August.
Nonfarm payroll employment increased by 151,000 in August vs. gains of 275,000 in July. Analysts surveyed by the Wall Street Journal were looking for a rise of 180,000 for the month.
August's growth was lower than expected following two months of robust gains, according to Reuters. The report could push the Federal Reserve to halt upcoming interest rate hikes as the central bank waits for a stronger economy.
The U.S. dollar fell following the Labor Department's data, positively impacting oil prices. Oil, which is priced in the greenback, is more attractive to foreign investors when the U.S. dollar slips as it becomes less expensive.
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, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: DNR