Crude oil (WTI) was increasing 0.85% to $46.27 per barrel and Brent crude was gaining 0.65% to $48.32 per barrel this afternoon.
Oil prices reversed earlier losses this afternoon on a weaker dollar and stronger U.S. equity markets, Reuters reports.
Commodities priced in dollars, such as oil, are more expensive to foreign investors when the greenback is strong.
Additionally, data from Genscape showed a decline of 330,611 barrels at the Cushing, OK delivery point for U.S. crude futures in the six days to today, which also lifted oil prices, Reuters noted.
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