ADVFN - Advanced Financial Network.
HOME» NYSE » D » DNR Stock Price » DNR Stock News

Denbury Share News

 Denbury Resources (de) Stock Price
DNR Stock Price
 Denbury Resources (de) Stock Chart
DNR Stock Chart
 Denbury Resources (de) Stock News
DNR Stock News
 Denbury Resources (de) Company Information
DNR Company Information
 Denbury Resources (de) Stock Trades
DNR Stock Trades

BP WATCH: Shares Pop Over $40, Then Slip, After 'Static Kill'

By Donna Kardos Yesalavich Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- BP PLC's (BP) U.S. shares popped above $40 on Wednesday for the first time since May after the oil giant said its "static kill" effort was successful. The level was a psychologically important milestone for investors of the embattled company, whose shares traded under $27 in late June as the spill gushed millions of barrels of oil into the Gulf of Mexico. But, the jump in shares proved to be short-lived, with the stock falling 1.2% to $39.43 by early afternoon trading. Investors were hesitant to get too excited about BP before the Macondo well is permanently plugged. Analysts are also responding with a cautious tone on the stock as BP and the government determine in the coming days how to permanently end the disaster. "The right answer is to wait for relief well," Tudor Pickering told clients in a Wednesday note. BP plans to intersect a relief well at the bottom of Macondo, enabling the final cement job that would kill the source of the spill. The company is targeting mid-August for the relief well. Sentiment toward BP improved in other markets. London shares closed 1.4% higher. In the options market, there was nearly twice as much volume in calls as in puts, according to Track Data. Calls are considered bullish because they convey the right to buy shares, while puts convey the right to sell shares. Meanwhile, the annual cost of buying protection against default on $10 million in BP debt over a five-year period fell to $260,000, from $307,000 on Tuesday, according to Markit. Oswald Clint, an analyst for BernsteinResearch, told clients that he believes the stock is "now fairly valued." He listed factors including "the uncertainty surrounding the final cost of the spill and the less easily quantifiable damage to BP's brand ... there does remain the potential for some upside in the near term, however, as the leak is finally capped." But, once the well is permanently plugged, that could launch BP shares significantly higher, according to J.P. Morgan Cazenove. The firm said in a report that shares have a potential upside of 20%, with a successful relief well among near-term triggers to boost the stock. -By Donna Kardos Yesalavich, Dow Jones Newswires; 212-416-2188; donna.yesalavich@dowjones.com

Stock News for Denbury (DNR)
DateTimeHeadline
08/12/201513:28:19Post-effective Amendment to an S-8 Filing (s-8 Pos)
08/12/201513:26:29Securities Registration: Employee Benefit Plan (s-8)
08/06/201518:23:42Quarterly Report (10-q)
08/05/201509:22:04Current Report Filing (8-k)
07/28/201516:50:27Current Report Filing (8-k)
07/09/201517:29:04Amended Statement of Ownership (sc 13g/a)
07/02/201514:21:14Statement of Changes in Beneficial Ownership (4)
07/02/201514:19:56Statement of Changes in Beneficial Ownership (4)
07/02/201514:19:05Statement of Changes in Beneficial Ownership (4)
06/18/201511:02:183 Stocks to Watch in Upstream Oil & Gas
06/17/201511:50:07Statement of Changes in Beneficial Ownership (4)
06/03/201513:39:1310 Best Oil Stocks by Oil Reserves
05/31/201511:00:03Oil Investment Opportunites for the Long Term
05/24/201508:00:033 Undervalued Stocks in Oil Worth Buying
05/22/201512:33:01Current Report Filing (8-k)
05/21/201516:07:55Statement of Changes in Beneficial Ownership (4)
05/21/201516:06:37Statement of Changes in Beneficial Ownership (4)
05/21/201516:04:28Statement of Changes in Beneficial Ownership (4)
05/21/201516:00:31Statement of Changes in Beneficial Ownership (4)
05/21/201515:59:14Statement of Changes in Beneficial Ownership (4)

Denbury Res and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad