NEW YORK (TheStreet) -- Shares of Chevron Corp. (CVX) - Get Report are higher by 1.77% to $106.04 in mid-afternoon trading on Wednesday, as some energy stocks get a boost today from the rally in oil prices.

Crude oil (WTI) is advancing by 3.60% to $49.22 per barrel and Brent crude is soaring by 2.41% to $56.44 per barrel this afternoon, according to the CNBC.com index.

Oil prices are rising today as the euro strengthened against the dollar after a jolt in business morale in Germany and France, Reuters reports.

Earlier today oil prices were showing some losses after data from the Energy Information Administration showed U.S. crude stockpiles grew by 8.2 million barrels in the week ended March 20.

Analysts polled by Reuters were expecting supplies to grow by 5.1 million last week.

Additionally, oil magnate T. Boone Pickens said on Tuesday that he believes oil prices could reach $100 per barrel by the end of 2016, revising his earlier forecast that saw oil reaching that price by the end of this year, Reuters said.

Separately, TheStreet Ratings team rates CHEVRON CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CHEVRON CORP (CVX) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, disappointing return on equity and weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• CVX's debt-to-equity ratio is very low at 0.18 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.94 is somewhat weak and could be cause for future problems.
• CVX, with its decline in revenue, slightly underperformed the industry average of 19.6%. Since the same quarter one year prior, revenues fell by 22.6%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
• The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. In comparison to the other companies in the Oil, Gas & Consumable Fuels industry and the overall market, CHEVRON CORP's return on equity is significantly below that of the industry average and is below that of the S&P 500.
• CHEVRON CORP's earnings per share declined by 28.0% in the most recent quarter compared to the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, CHEVRON CORP reported lower earnings of $10.14 versus $11.09 in the prior year. For the next year, the market is expecting a contraction of 63.2% in earnings ($3.74 versus $10.14).
• You can view the full analysis from the report here: CVX Ratings Report