Stock Broker Sold You Risky Oil Bonds From Denbury Resources? You Could Recover Losses:

Broker Sold You Denbury Resources Inc. Bonds, Stock, or Other Risky High Yield Oil and Gas Investments? Denbury Resources Bankruptcy?

Soreide Law Group is investigating bond sales made to clients by stock brokers that were inappropriately risky. Despite the recent announcement the fed will be buying bond ETF’s it does not mean the underlying companies cannot default on them. Oil and gas companies have been particularly hard hit lately as the country suffered limited activity under the Covid-19 pandemic. Many Moody’s B rated bonds from just a few years ago went to negative outlooks and are now Ca rated or bankrupt. These oil companies also use financial leverage that caused their high debt balances they are unable to reduce or to cause them to

become worth very little. Denbury Resources bankruptcy seems possible according to several analysts.

Denbury Resources Bond and Stock Loss Victims Call 888-760-6552 To Start the Recovery Process Now.

Denbury Resources, Inc. bonds (CUSIP: 247016AC3) are rated Ca by Moodys as of 3/11/20 and are now Non-Investment Grade. Moody’s expects Denbury’s revenue to decline in 2021 and is not sure if they will be able to refinance their debt maturing in 2021. In 2016 Denbury had a B rating by Moody’s. Many brokers sold the bonds because of their high yield and their high rating. However, many brokerage clients were sold excess amounts of these bonds due

to their high yield and are not caught with oil futures even going negative temporarily in 2020. Their barrel of oil equivalent cost was $41 in the fourth quarter of 2019 according to Moody’s. Some argue Denbury Resources may be on the way to bankruptcy.

Denbury Resources Inc., whose stock symbol is DNR and trades at $.28 as of 5/12/20, has recently hired restructuring advisors to cope with the low price of oil. They hried Evercore Inc to advise on managing their $2.3 billion in debt. They even cut their capital expenditure budget for 2020 by 44%. The ongoing oil price war and lack of demand are causing many oil companies to teeter on the brink of collapse. If your broker or financial advisor recommended this risky stock or bond and other risky investments please call us today at 1-888-760-6552 or fill out our form click here.

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