NEW YORK (TheStreet) -- Shares of Weatherford International Plc (WFT) are higher by 4.07% to $10.74 in mid-afternoon trading on Tuesday, as energy stocks get a boost from Spanish energy company Repsol SA's $8.3 billion agreement to acquire Talisman Energy (TLM) .
Yesterday the energy sector was down due to the decline in oil prices.
Earlier today, light, sweet Brent crude for January delivery had hit its lowest level in over five years, before rebounding higher, rising as much as 1.5% to $56.87 in early afternoon trading on the New York Mercantile Exchange, MarketWatch reports.
Oil was down earlier in the day due to the interest rate increase in Russia, and a slowdown in China's manufacturing sector.
Brent crude is down by 0.14% to $55.83 per barrel this afternoon.
Separately, TheStreet Ratings team rates WEATHERFORD INTL PLC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate WEATHERFORD INTL PLC (WFT) a HOLD. The primary factors that have impacted our 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. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, disappointing return on equity and poor profit margins."