NEW YORK (TheStreet) -- Shares of Resolute Energy (REN) were climbing 6.14% to $18.49 on heavy trading volume mid-Tuesday afternoon as oil prices rose to five-week highs.

Over 6.33 million shares of Resolute Energy stock have traded so far today vs. the stock's 30-day daily average of 2.35 million shares.

Oil was on the rise this afternoon as OPEC sources began to consider reviving talks to freeze oil output levels when it meets with non-OPEC countries next month, according to Reuters.

Despite the fact that OPEC members produced at an eight-year high in July, analysts at UBS suspect that production will fall in upcoming weeks as turmoil in member countries persists.

Also, analysts at Merrill Lynch upgraded the energy sector today to an "outperform" rating in a note cited by Barron's.

Crude oil (WTI) was advancing 1.99% to $46.65 per barrel while Brent crude rose 1.94% to $49.29 per barrel.

TheStreet Recommends

Resolute Energy, based in Denver, is an independent oil and gas company.

Separately, 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.

TheStreet Ratings rated this stock as a "sell" with a ratings score of E+.

Among the areas we feel are negative, one of the most important has been weak operating cash flow.

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

Image placeholder title