Updated from 1:44 p.m. EDT

NEW YORK (TheStreet) -- Shares of Exxon Mobil  (XOM - Get Report) were down in early-afternoon trading on Tuesday as the SEC investigates how the oil and natural gas giant values its assets following the steep decline in oil prices, the Wall Street Journal reports.

The probe is also looking into how the Irving, TX-based company approximates the future costs of adhering to increasingly strict climate change regulations, sources told the Journal. 

The federal agency last month sought information from Exxon and its auditor, PricewaterhouseCoopers. The SEC has also been reviewing documents from a similar ongoing investigation by New York State Attorney General Eric Schneiderman.

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Exxon Mobil's strengths such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and solid stock price performance are countered by weaknesses including feeble growth in the company's earnings per share, weak operating cash flow and poor profit margins.

You can view the full analysis from the report here: XOM

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 article's author.