NEW YORK (TheStreet) -- Shares of Marathon Oil (MRO) - Get Report are gaining by 1.52% to $7.33 in midday trading on Thursday, as some energy and related stocks move into the green as oil prices shake off today's earlier losses.
The commodity is currently trading higher following a report that the Organization of Petroleum Exporting Countries and Russia have agreed to hold a meeting in March to discuss capping production levels, Reuters reports.
Crude oil (WTI) is rising by 3.23% to $33.19 per barrel this afternoon and Brent crude is up by 2.79% to $35.37 per barrel.
Venezuelan oil minister Eulogio Del Pino said the South American country, Saudi Arabia, Russia and Qatar have decided on the March meeting.
Oil prices jumped last week and part of this week when the four countries announced their plan to freeze production at January levels, but the surge fizzled out as investors cast doubts about the efficacy of the plan, Reuters added.
Marathon Oil is a Houston-based energy company with operations that include exploring for, producing and marketing crude oil and condensate, NGLs and natural gas.
Separately, TheStreet Ratings has set a "sell" rating and a score of D on Marathon Oil stock. This is driven by multiple weaknesses, which TheStreet Ratings believes 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 it covers.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
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: MRO