Long Position on DEN @ $80.90 on 6/25/2021 (Momentum)

Denbury Inc. (DEN) is an independent energy company. 

The company focuses on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions.

The company holds interests in various oil and natural gas properties located in Mississippi, Texas, and Louisiana in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

As of December 31, 2020, it had 143 million barrels of oil equivalent of estimated proved oil and natural gas reserves. The company was formerly known as Denbury Resources Inc. and changed its name to Denbury Inc. in September 2020. The rise in ooil prices have pushed the shares higher and are expect to push share prices higher. The Company reports August 5th.

Entry Point: $80.90

Stop Loss: $76.00

Trading Range: $15.43 - $81.37

Target Price: $89.00

Position closed on 12/2/2021 at price of $78.00 with a -3.58% loss in 160 days.

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