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 the 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, Denbury simply says it “does not 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 July of that year and exited just months later in September. That resulted in Denbury 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 have changed hands. That’s above the company’s daily average trading volume of around 660,000 shares.
DEN stock is up 3.5% as of Thursday afternoon. Shares are also up nearly 14% 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 next Apple (NASDAQ:AAPL) event date and an interesting buyer of Coinbase (NASDAQ:COIN) stock. You can check out all of this news at the following links!
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On the date of publication, William White did not hold (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.
