NEW YORK (TheStreet) -- Shares of CONSOL Energy (CNX) rose by 7.52% to $6.72 on Wednesday, alongside oil prices on indications that Russia could cooperate with the Organization of the Petroleum Exporting Countries to lessen the global glut.
Crude Oil (WTI) is up by 1.56% to $31.94 per barrel this afternoon and Brent crude is higher by 3.14% to $32.80 per barrel according to the CBNC.com index.
Russia's energy minister left the possibility open of talks with OPEC in a statement soon after the chief of Russia's pipeline monopoly said officials decided they should discuss reducing production with Saudi Arabia and other OPEC members, Reuters reports.
"I remain skeptical, at the end of the day, about that happening as the oil producers are looking at the other guy to cut production while maintaining their own levels," Andrew Lipow of Lipow Oil Associates told Reuters.
Additionally, inventories of products such as heating oil declined by more than 4 million barrels, according to data from the EIA, which topped expectations of an increase of almost 2 million.
CONSOL Energy is an integrated energy company headquartered in Canonsburg, PA.
Separately, TheStreet Ratings Team has a "sell" rating with a score of D on the stock.
This is driven by some concerns, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered by the team.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, 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: CNX