DEN - DEN Stock Alert: What to Know as Denbury Explores Strategic Sale
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Denbury (NYSE:DEN) stock is catching the attention of investors on Thursday following a report that the U.S. oil company is considering a strategic sale.
According to this report, Denbury is currently working with an advisor to explore strategic options. This knowledge comes from anonymous insiders that spoke with Bloomberg yesterday.
Investors in DEN stock looking for more information are out of luck right now. The company hasn’t made any official announcements about a strategic sale and is refusing to comment on the reports. Instead, it simply says it doesn’t “comment on speculation.”
DEN Stock Already Weathered a Bankruptcy
It’s worth noting that Denbury went through a rough patch once already back in 2020. The company filed for bankruptcy in June of that year and exited just four months later in September. That resulted in it reducing its debt by $2.1 billion.
With today’s reports, DEN stock is seeing heavy trading. As of this writing, over 850,000 shares of the stock have changed hands. That’s above the company’s daily average trading volume of around 661,000 shares.
DEN stock is up 3.5% as of Thursday afternoon. In addition to that, shares of DEN are up 13.4% since the start of the year.
Investors looking for more recent stock market news are going to want to stick around!
We’ve got all of the latest stock news traders need to know about with our daily coverage of the market. For Thursday, that includes what’s happening with Aerojet Rocketdyne (NYSE:AJRD) stock, reports of the date for the next Apple (NASDAQ:AAPL) event, as well as an interesting buyer of Coinbase (NASDAQ:COIN) stock. You can check out all of this news at the following links!
More Stock Market News for Thursday
- Can Elliott Management Save Aerojet Rocketdyne (AJRD) Stock?
- Dear AAPL Stock Fans, Mark Your Calendars for Sept. 7
- Shopify CEO Tobias Lütke Just Bought Coinbase (COIN) Stock
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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