Southwestern Energy (SWN) Stock Gains on Oil Prices, Stock Offering
NEW YORK (TheStreet) -- Shares of Southwestern Energy (SWN) - Get Report are up 2.40% to $11.94 in mid-afternoon trading on Wednesday on higher oil prices and the completion of a stock offering.
The Spring, TX-based oil and natural gas producer yesterday completed its previously announced public offering of 98.9 million shares of common stock.
The offering generated about $1.247 billion to be used to repay $375 million of a $750 million term loan, according to a company statement.
Additionally, oil prices are trading higher alongside stocks, other commodities and certain currencies ahead of the Fed's June meeting and Friday's jobs report.
Crude oil (WTI) is up 1.95% to $47.51 per barrel and Brent crude is gaining 1.69% to $48.77 per barrel this afternoon.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
Southwestern Energy's weaknesses include its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally high debt management risk.
You can view the full analysis from the report here: SWN
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.