NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) - Get Report are higher by 3.49% to $5.34 on Wednesday afternoon, as the rally in oil prices drives some stocks within the energy and related sectors into the green today.
Crude Oil (WTI) is gaining by 2.51% to $32.24 per barrel this afternoon and Brent crude is up by 3.87% to $33.03 per barrel.
The commodity erased some of today's earlier losses after data out of the U.S. showed crude stockpiles grew by fewer barrels than had been previously reported.
The Energy Information Administration reported that crude inventories grew by 8.4 million barrels last week, higher than the 3.3 million barrels analysts surveyed by the Wall Street journal were expecting, but below the 11.4 million barrels the American Petroleum Institute reported on Tuesday afternoon.
Oasis Petroleum is a Houston-based independent exploration and production company the focuses on the acquisition and development of unconventional oil and natural gas resources.
Separately, TheStreet Ratings has set a "hold" rating and a score of C- on Oasis Petroleum stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including generally higher debt management risk, disappointing return on equity and weak operating cash flow.
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: OAS