WPX Energy (WPX) Stock Down on Lower Oil Prices

WPX Energy (WPX) stock is declining on Thursday afternoon as oil prices fall on disappointing U.S. crude stock drawdown.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of WPX Energy (WPX) - Get Report are decreasing 0.74% to $9.44 in midday trading Thursday as oil prices slide.

Crude oil (WTI) is falling 3.52% to $45.76 per barrel and Brent crude is slumping 3.5% to $47.09 per barrel.

Oil prices are trading in the red this afternoon as government data showed a weaker U.S. crude inventory drawdown than a report released yesterday indicated, Reuters reports.

U.S. commercial crude stocks dropped by 2.2 million barrels to a total of 524.4 million last week, according to the Energy Information Administration (EIA).

The American Petroleum Institute (API) said its report showed that U.S. crude stockpiles declined by 6.7 million barrels last week, which marked a drop for the seventh week in a row, Reuters noted.

WPX Energy is a Tulsa, OK-based oil and natural gas exploration and production company.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.

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.

You can view the full analysis from the report here: WPX

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