NEW YORK (TheStreet) -- Southwestern Energy (SWN) shares are up 2.32% to $23.55 in trading on Tuesday as oil prices lifted the sector and analysts at Tudor Pickering upgraded the natural oil and gas exploration company to "accumulate" from "hold" today.
Oil prices are gaining today as demand increases as refineries convert oil to gasoline at near record rates, according to the Wall Street Journal.
Additionally, Tropical Storm Bill, which is forming off of the Texas coast, could disrupt offshore drilling operations in the Gulf of Mexico, helping bring down supply of crude in an over saturated market.
Light sweet crude for July delivery is up 57 cents to $60.29 per barrel on the New York Mercantile Exchange today.
TheStreet Ratings team rates SOUTHWESTERN ENERGY CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOUTHWESTERN ENERGY CO (SWN) 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, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equiaty and weak operating cash flow."