NEW YORK (TheStreet) -- Shares of Occidental Petroleum Corp. are higher by 2.50% to $81.98 in late afternoon trading on Thursday, as stocks in the energy, oil and gas sectors rise along with the price of oil. Crude oil (WTI) is gaining by 5.24% to $51.40 per barrel and Brent crude is advancing by 4.37% to $57.05 per barrel this afternoon, according to the Bloomberg index. Oil prices are recovering after spending two sessions in the red due to a weaker dollar and as concerns regarding the global supply glut are calmed as a result of industry spending cuts. Exclusive Report: Jim Cramer's Best Stocks for 2015 STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. A weaker dollar can make commodities that are dollar dominated less expensive for those that hold different currencies. Oil is also gaining off of comments made by the CEO of Royal Dutch Shell , Ben van Beurden, in which he stated that oil demand will outpace supply growth in 2015, the Wall Street Journal reports. Separately, TheStreet Ratings team rates OCCIDENTAL PETROLEUM CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation: Highlights from the analysis by TheStreet Ratings Team goes as follows: OXY, with its decline in revenue, slightly underperformed the industry average of 21.4%. Since the same quarter one year prior, revenues fell by 30.2%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share. OCCIDENTAL PETROLEUM CORP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, OCCIDENTAL PETROLEUM CORP reported lower earnings of $0.68 versus $7.35 in the prior year. This year, the market expects an improvement in earnings ($1.61 versus $0.68). The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income has significantly decreased by 307.7% when compared to the same quarter one year ago, falling from $1,643.00 million to -$3,413.00 million. In its most recent trading session, OXY has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Looking ahead, other than the push or pull of the broad market, we do not see anything in the company's numbers that may help reverse the decline experienced over the past 12 months. Despite the past decline, the stock is still selling for more than most others in its industry. You can view the full analysis from the report here: OXY Ratings Report STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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