NEW YORK (TheStreet) -- Shares of ConocoPhillips  (COP) - Get Report were up 5.24% to $43.99 in early-afternoon trading on Thursday after posting a narrower-than-expected loss for the 2016 third quarter and raising its outlook for the full year. 

Before the market open, the Houston-based oil and natural gas producer reported an adjusted loss of 66 cents per share, narrower than the FactSet consensus of a loss of 68 cents per share. 

Third-quarter production reached 1,557 million barrels oil equivalent per day (MBOED).

ConocoPhillips increased the midpoint of its full-year production outlook to 1,565 MBOED from 1,555 MBOED, and cut its 2016 capital expenditures forecast to $5.2 billion from $5.5 billion.

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Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.

ConocoPhillips's weaknesses include its deteriorating net income, poor profit margins, weak operating cash flow, disappointing return on equity and generally disappointing historical performance in the stock itself.

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

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.

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