NEW YORK (TheStreet) -- Shares of independent oil and gas exploration company Denbury Resources (DNR) fell 4.22% to $7.39 in afternoon trading Monday after some bearish remarks on oil prices by the Organization of the Petroleum Exporting Countries (OPEC).
OPEC said in a draft report that oil prices would remain below $100 per barrel until at least 2025 according to the Wall Street Journal. The organization's most optimistic scenario predicts that oil would sell at approximately $76 a barrel a decade from now, the report states.
On the more pessimistic side, OPEC, which represents 12 nations that produce oil, cautioned that crude oil could cost as little as $45 a barrel in 2025.
"$100 is not in any of the scenarios," a delegate remarked at an OPEC presentation last week in Vienna, according to the Journal.
Separately, TheStreet Ratings team rates DENBURY RESOURCES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate DENBURY RESOURCES INC (DNR) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself."