Denbury Resources (DNR) stock started sinking on Wednesday. They continued to go down on Thursday and Friday as well. Overall, they went down by over 15% since they opened on Wednesday, alongside oil prices as traders booked profits after three sessions of gains.

Denbury Resources Inc. is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming. It has estimated proved oil and natural gas reserves of over 288.6 million barrels of oil equivalent (MMBOE). Its primary Gulf Coast carbon dioxide source is Jackson Dome, which is located near Jackson, Mississippi..

Shares of Denbury Resources slumped by 6.31% to $4.24 during trading on Thursday the 9th as oil prices declined. On Friday, the again went down by another 8.83% to close at $3.31.

Crude oil  also dropped by 1.33% to $50.55 per barrel and Brent crude is sliding by 1.14% to $51.91 per barrel yesterday afternoon.

Oil prices fell as traders booked profits after three sessions of gains and after the price of the commodity hit 2016 highs. A rallying U.S. dollar also pressured prices. Oil is more expensive to foreign currency holders when the greenback is strong.

“If you look at the week behind us, there was support for commodities from the currency side, the equity side, and the emerging markets side,” Bjarne Schieldrop, chief commodity analyst at SEB, “We see some reverse of that now,” he added.

Earlier in the month of May, shares of Denbury Resources went down by 5.48% to $3.97 on the morning of Thursday 2nd of May, as some energy and related stocks are pressured by the retreat in oil prices.

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The commodity is trading in the red as the Organization of Petroleum Exporting Countries agreed at their meeting today not to freeze their production levels.

“Despite the lack of an OPEC-led production freeze, the balance of the global oil market has changed in the last few months,” Bob Minter, investment strategist at Aberdeen Asset Management remarked. “All member countries are still highly motivated to maximize production for political and economic reasons.”

OPEC discussed capping production in recent months, which helped give oil prices a much needed boost, however Iran isn’t willing to lower production. The key OPEC member is looking to increase its output now that international sanctions have been lifted.

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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.