Oil Price Predictions for 2022 and 5 Stocks to Watch

3. Denbury Inc. (NYSE:DEN)

Number of Hedge Fund Holders: 32

Headquartered in Plano, Texas, Denbury Inc. (NYSE:DEN) is an independent energy company that produces oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The company offers exposure to oil prices, with its production being around 97% oil.

On February 18, Roth Capital analyst John White upgraded Denbury Inc. (NYSE:DEN) to Buy from Neutral ahead of the company’s earnings report, as he cited higher crude oil futures and lower debt levels for an increased target on the shares of $87.75, up from $78.75. Denbury Inc. (NYSE:DEN)’s balance sheet is “in great shape” and he sees further longer-term upside from Denbury Inc. (NYSE:DEN)’s nascent CCUS effort, the analyst added.

Among the hedge funds tracked by Insider Monkey, 32 funds were bullish on Denbury Inc. (NYSE:DEN) in Q4 2021, up from 29 funds in the quarter earlier. Silver Point Capital is the leading shareholder of the company, with 3.8 million shares worth $292.5 million.