NEW YORK (TheStreet) -- Shares of WPX Energy (WPX - Get Report) are down by 1.67% to $6.48 in early afternoon trading on Wednesday as the decline in the price of oil pushes some mining and metals stocks into negative territory.

The price of the commodity is falling as weekly U.S. crude inventories spiked by more than what was expected.

Data from the Energy Information Administration showed that crude stockpiles jumped by 9.4 million barrels last week to a record of 532.5 million barrels, Reuters reports.

The build was countered by a 4.6 million barrel drop in gasoline stocks.

On Tuesday the American Petroleum Institute issued a report suggesting crude inventories grew by only 8.8 million barrels last week.

"Net supply in the short term should still be in excess and thus brings us to believe that the current uptrend is unsustainable," Phillip Futures analyst Daniel Ang said in a note, Reuters added.

Crude oil (WTI) is sinking by 3.04% to $40.19 per barrel and Brent crude is slumping by 2.39% to $40.79 per barrel.

Separately, TheStreet Ratings has set a "sell" rating and a score of D on WPX Energy stock. This is driven by a number of negative factors, 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