Southwestern Energy (SWN) Stock Jumps With Rising Oil
NEW YORK (TheStreet) -- Southwestern Energy (SWN) - Get Report shares are spiking 1.75% to $12.20 on Tuesday afternoon along with rallying oil prices as investors remained positive ahead of the Energy Information Administration (EIA) report due out Wednesday morning.
"We're gearing up on expectations that the wildfires in Canada may finally be showing up in U.S. crude inventory numbers," Phil Flynn, analyst at the Price Futures Group told Reuters. "If they show up decisively, it may be what the market needs to test $50."
It's estimated that about 2.5 million barrels to 538.8 million barrels of commercial crude stocks in the U.S. have fallen in the week ended May 20, according to a Reuters poll.
Also giving oil prices some support today were gains in technology and financial stocks, CNBC said.
Crude oil (WTI) is up 1.08% to $48.60 per barrel and Brent crude is advancing 0.7% to $48.69 per barrel.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally high debt management risk.
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 article's author.
You can view the full analysis from the report here: SWN
