DNR - The Company Behind This $1 Oil Stock Is Doing Everything It Can to Survive
Denbury Resources (NYSE: DNR) has struggled mightily since oil prices began slumping from their triple-digit peak in 2014. Shares of the oil producer have plummeted about 90% over the past five years, which has pushed the stock price down to around $1 per share. The main factor weighing on the oil stock is the $2.5 billion of debt on its balance sheet.
The energy company, however, is doing everything it can to address its financial situation so that it can make it through the still challenging oil market environment. That was one of the key takeaways on its third-quarter conference call.
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