NEW YORK (TheStreet) -- Shares of WPX Energy (WPX - Get Report) are gaining by 4.34% to $8.93 in mid-morning trading on Wednesday, as the rally in the price of oil helps drive some energy and related stocks into the green today.
The price of the commodity is rising following a reduction in production from Canada's oil sands region, Reuters reports. However, the expectation of a rise in U.S. crude inventories is keeping prices from soaring further.
Crude oil (WTI) is climbing by 2.06% to $44.55 per barrel and Brent crude is advancing by 1.47% to $45.63 per barrel this morning.
Output from the oil sands region in the Canadian province of Alberta was cut after a wildfire broke out, Reuters added. The entire population of Fort McMurry was being evacuated.
The massive blaze began last night and was the result of high temperatures, low humidity, and high winds, reports say.
WPX Energy is a Tulsa, OK-based oil and natural gas exploration and production company.
Separately, TheStreet Ratings has set a "sell" rating on WPX Energy stock. This is driven by a few notable weaknesses, 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