NEW YORK (TheStreet) -- Shares of Denbury Resources (DNR) - Get Report are higher by 6.67% to $1.12 in early afternoon trading on Wednesday, as the rebound in the price of oil drives some energy and related stocks into the green today.
The commodity erased some of today's earlier losses after data out of the U.S. showed crude stockpiles grew by fewer barrels than had been previously reported.
The Energy Information Administration reported that crude inventories grew by 8.4 million barrels last week, higher than the 3.3 million barrels analysts surveyed by the Wall Street journal were expecting, but below the 11.4 million barrels the American Petroleum Institute reported on Tuesday afternoon.
Crude Oil (WTI) is gaining by 3.85% to $32.66 per barrel this afternoon and Brent crude is climbing by 4.91% to $33.36 per barrel.
Denbury Resources is an oil and natural gas company based in Plano, TX.
Separately, TheStreet Ratings has set a "sell" rating and a score of D- on Denbury resources stock. This is driven by some concerns, 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