Denbury Resources (DNR) Stock Falling Amid Lower Oil Prices

NEW YORK (TheStreet) -- Shares of Denbury Resources (DNR) are down by 1.93% to $6.88 in late afternoon trading on Monday, as some energy and related stocks drop along with the price of oil.

The commodity is falling as Chinese oil imports decline and due to last week's announcement from OPEC that it will keep its production rate the same despite the global supply glut, MarketWatch reports.

Crude oil (WTI) is lower by 1.44% to $58.28 per barrel and Brent crude is slipping by 0.87% to $62.76 per barrel this afternoon, according to the CNBC.com index.

Data from China showed that the country's May crude-oil imports fell by 11% from the same month last year.

"With the OPEC news behind us and the cartel doing what the world expected, focus now turns to the deadline of the Iran nuclear deal on June 30," Schneider Electric Oil analyst Brain Swan told MarketWatch.

If oil sanctions on the country are lifted it could result in more oil from Iran flooding the market.

Denbury Resources is a Plano, TX.-based independent oil and gas exploration and production company.

Separately, TheStreet Ratings team rates DENBURY RESOURCES INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

"We rate DENBURY RESOURCES INC (DNR) a SELL. This is driven by multiple weaknesses, which we believe 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 we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."

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