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CONSOL Energy (CNX) Stock Up on Deutsche Bank Upgrade, Higher Oil Prices

NEW YORK (TheStreet) -- CONSOL Energy (CNX - Get Report) stock is climbing 8.53% to $10.69 in late morning trading on Monday, amid an upgrade to "hold" from "sell" at Deutsche Bank,and higher oil prices.

After CONSOL Energy's 2015 third quarter share price declined 55%, the company's risk-reward position has become more balanced, Deutsche Bank said in an analyst note. Even so, the integrated energy company depends largely on successful asset sales in a crowded market, the firm notes.

Also boosting CONSOL Energy stock, oil prices are higher this morning as cuts to U.S. oil production were greater than expected last week. On Friday, Baker Hughes reported that the U.S. rig count fell by 26 to 614, with the total number of rigs declining roughly 62% since the peak of 1,609 during October of 2014, the Wall Street Journal reports.

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WTI crude is up 2.11% to $46.50 per barrel, while Brent crude is higher by 2.49% to $49.33 per barrel this morning, according to the index.

Separately, TheStreet Ratings team rates CONSOL ENERGY...