NEW YORK (TheStreet) -- Shares of Exxon Mobil Corp (XOM) ended the regular trading session higher by 0.74% to $85.21 on Wednesday, as both WTI and Brent crude prices traded in the green following a report by the Energy Information Administration, Reuters reports.
According to the EIA, crude stocks fell by 6.8 million barrels last week, much higher compared to the decline of 1.7 million barrels analysts were expecting.
Crude stocks at the Cushing, Okla. delivery hub dropped by 1.024 million barrels, the EIA reports.
Refineries increased output, while gasoline stocks decreased and distillate inventories increased, Reuters noted.
Brent crude for July delivery was up 1.13% to $65.61 a barrel as of 4:10 p.m. ET today, while U.S. crude for July delivery was rising 1.68% to $61.15 a barrel.
Shares of Exxon are up 0.13% to $65.32 in after-hours trading.
Irving, Texas-based ExxonMobil is the largest publicly traded international oil and gas company and holds an industry-leading inventory of resources. The company is the largest refiner and marketer of petroleum products.
Separately, TheStreet Ratings team rates EXXON MOBIL CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXXON MOBIL CORP (XOM) 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 reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow."