NEW YORK (TheStreet) -- Shares of Denbury Resources (DNR) - Get Report are down by 8% to $2.07 on Tuesday morning, as the decline in the price of oil drives some energy and related stocks into the red today.
The price of the commodity is falling as investors are still concerned about the rising supply of oil, as it seems the two month rally is fading, Reuters reports. Representatives from the world's major producers will meet next month to discuss freezing output.
Crude oil (WTI) stock is sliding by 3.3% to $38.09 per barrel and Brent crude is retreating by 3.2% to $38.98 per barrel this morning.
There is doubt as to whether or not the outcome of the meeting in Doha on April 17 will result in a freeze.
"Verbal intervention, which has obviously helped the market greatly over the past two months, combined with a production slowdown in the U.S., has probably taken (oil) as far as it can. Now the market really wants to see some action," Saxo Bank senior manager Ole Hansen told Reuters.
Denbury Resources is a Plano, TX-based independent oil and natural gas company.
Separately, TheStreet Ratings has set a "sell" rating and a score of D- on Denbury Resources stock. This is driven by a few notable weaknesses, which TheStreet Ratings believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
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