NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) - Get Report are higher by 4.18% to $4.99 in morning trading on Friday, as oil prices rise on hopes that a potential deal between major exporters to reduce output could lessen the ongoing global oversupply.
Crude oil (WTI) is up by 0.96% to $33.54 per barrel this morning and Brent crude is increasing by 1.5% to $34.40 per barrel, according to the CNBC.com index.
Russia said this week it could work with OPEC on production cuts, which it has declined to do for 15 years, Reuters reports.
"While we view this outcome as unlikely, a 5 percent production cut by just Saudi Arabia and Russia would be sufficient to bring the market close to balance," Jefferies said in a research note cited by Reuters.
Oasis Petroleum is a Houston-based exploration and production company.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.
The primary factors that have impacted its 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.
As a counter to these strengths, the team also finds weaknesses including generally higher debt management risk, disappointing return on equity and weak operating cash flow.
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: OAS