NEW YORK (TheStreet) -- WPX Energy (WPX - Get Report)  stock was started with a "buy" rating and $11 price target at Drexel Hamilton.

The Tulsa, OK-based company is engaged in natural gas and oil exploration and production.

"We see WPX in a very strong position when it comes to future low-cost crude oil development compared to its other crude oil leveraged small cap E&P peers in terms of potential crude oil reserves and their eventual production deriving largely from its newly acquired position in the Delaware basin of New Mexico," the firm wrote in a note.

The Delaware basin is seen by Drexel Hamilton as the second-richest oil prone basin in the U.S. after the Midland basin, which is located nearby in the Permian basin of Texas and New Mexico.

Shares of WPX Energy closed at $6.34 on Monday.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D- on the stock.

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.

Recently, 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