NEW YORK (TheStreet) -- WPX Energy (WPX - Get Report) stock is rising 2.09% to $9.76 late Thursday morning as oil prices increase.

Crude oil (WTI) is up 0.69% to $49.47 per barrel and Brent crude is increasing 0.72% to $50.24 per barrel this morning.

Oil prices are trading in the green today as the U.K. votes on whether to stay in the European Union, the Wall Street Journal reports.

Analysts noted that market sentiment has improved as support for remaining in the EU has built momentum, which has propelled oil prices higher.

"A positive tone in the commodity markets continues to support prices. However, the gains remain limited as investors await the outcome of the EU vote in the U.K.," ANZ Research said in a note cited by the Journal.

Conclusive results from the referendum will be announced early Friday.

WPX Energy is a Tulsa, OK-based oil and natural gas exploration and production company.

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 feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.

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