NEW YORK (TheStreet) --Shares of WPX Energy (WPX) - Get Report are higher by 7.48% to $9.05 in mid-morning trading on Thursday, as some energy and related stocks get a boost from the spike in the price of oil.
The price of the commodity climbed over $45 per barrel this morning as a wildfire in Canada's Alberta oil sands region rages on, threatening output.
Crude oil (WTI) is soaring by 2.9% to $45.07 per barrel and Brent crude is gaining by 2.49% to $45.73 per barrel.
The massive blaze has already destroyed about 1,600 structures and forced the entire population of Fort McMurray, located in the center of Alberta oil sands, to evacuate, USA Today reports. The wildfire is the largest in Canada's history.
Also helping oil prices today is the ongoing conflict in Libya, which could reduce the country's already limited production, USA Today added.
WPX Energy is an independent oil and natural gas exploration and production company based in Tulsa, OK.
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 deteriorating net income, disappointing return on equity, weak operating cash flow, generally high debt management risk and generally disappointing historical performance in the stock itself.
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