NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) - Get Report are gaining 3.75% to $4.70 on Thursday afternoon, as the rebound in the price of oil is driving some stocks within the energy sector higher.

The commodity is currently trading in the green 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 2.71% to $33.02 per barrel this afternoon and Brent crude is up by 2.01% to $35.10 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.

Oasis Petroleum is a Houston-based independent exploration and production company focused 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.

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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, weak operating cash flow and deteriorating net income.

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

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