Southwestern Energy (SWN) Stock Surging as Oil Prices Rebound
NEW YORK (TheStreet) -- Shares of Southwestern Energy (SWN) - Get Report are up 8.53% to $14 this morning as oil prices rebound.
Oil reached two-month lows yesterday but began to rise this morning as investors bet on a weaker dollar.
Crude oil (WTI) is up 1.76% to $45.55 per barrel and Brent crude is up 2.14% to $47.24 per barrel.
OPEC forecast in a note this morning that excess oil inventories - especially for non-OPEC entities - would decline in 2017, spurred by oil demand growth which they estimate at around 1.2 million barrels a day.
Despite OPEC's forecast, Baker Hughes reported another rise in the U.S. operating rig count last week at 440 rigs, up 9 from the previous week.
Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as 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
Recently, 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 articles's author.