NEW YORK (TheStreet) -- Shares of WPX Energy (WPX) - Get Report are gaining by 4.67% to $10.32 on Wednesday afternoon, as the rise in the price of oil helps boost some energy and related stocks.

WPX Energy is an independent oil and natural gas company based in Tulsa, OK.

Oil prices are trading in the green today as U.S. government data showed a bigger than expected drop in domestic crude supplies.

Crude supplies fell by 4.2 million barrels last week totaling 537.1 million barrels, MarketWatch reports. Analysts were looking for a dip of 3.3 million barrels for the week.

Oil is inching its way towards $50 per barrel for the first time in seven months.

Crude oil (WTI) is up by 2.14% to $49.66 per barrel this afternoon and Brent crude is rising by 2.53% to $49.84 per barrel.

"We are definitely moving out of this surplus situation that we've been living in since mid-2014. There will still be some time, maybe six months of surplus, but then we're basically into rebalancing," Bjarne Schieldrop, the head commodities strategist with SEB, told Reuters.

Separately, TheStreet Ratings has set a "sell" rating and a score of D on WPX Energy stock. This is driven by a few notable weaknesses, which TheStreet Ratings believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers.

The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.

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: WPX

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