NEW YORK (TheStreet) -- Oasis Petroleum (OAS) - Get Report stock is declining 3.10% to $9.99 in afternoon trading on Friday as oversupply concerns and a stronger dollar continued to weight on oil prices.

WTI is down 0.12% to $49.42 per barrel on the New York Mercantile Exchange, while Brent crude is falling 0.46% to $49.36 per barrel on the Intercontinental Exchange this afternoon.

The dollar strengthened on improved economic growth in the U.S., making dollar-denominated commodities more expensive for foreign investors, Reuters reports.

Investors also remained concerned that improving oil prices will lead to higher production, thus driving oil prices down again, Price Futures Group energy market analysts Phil Flynn told Reuters.

"But I also think we are down because of higher interest rate concerns and the longer weekend," Flynn added. "You don't want to be long on a $50 position when oil could be below $48 by the time the new week opens."

Houston-based Oasis Petroleum is an oil and gas exploration and production company.

Separately, Oasis Petroleum has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and disappointing return on equity.

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

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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