Whiting Petroleum (WLL) Stock Advancing as Oil Prices Bounce Back
NEW YORK (TheStreet) -- Shares of Whiting Petroleum (WLL) - Get Report are up by 13.17% to $8.85 on Tuesday morning, as the upsurge in oil prices aids some energy and related stocks.
The price of oil is trading in positive territory after hitting a two-month low on Monday on oversupply concerns, according to Reuters. The commodity was helped out today by a weaker dollar.
Crude oil (WTI) is higher by 2.21% to $45.75 per barrel and Brent crude is higher by 2.62% to $47.46 per barrel this morning.
Whiting Petroleum is a Denver-based independent oil and gas company that focuses on development, production, acquisition and exploration activities.
Despite the bounce back in oil prices, OPEC predicts oil demand will decline in 2017.
The organization also cut its 2016 global economic growth forecast to 3% from 3.1%, Reuters reports.
Separately, 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. TheStreet Ratings has this to say about the recommendation:
We rate WHITING PETROLEUM CORP as a Sell with a ratings score of D. This is driven by a few notable weaknesses, which we believe 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 we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and deteriorating net income.
You can view the full analysis from the report here: WLL
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