Whiting Petroleum (WLL) Stock Climbs Alongside Oil Prices
NEW YORK (TheStreet) -- Whiting Petroleum (WLL) - Get Report stock is up 3.84% to $9.60 this afternoon as oil prices gain.
Crude oil (WTI) is increasing 0.21% to $48.43 per barrel and Brent crude is up 0.32% to $49.87 per barrel this afternoon.
Oil is rising today on a weaker dollar, increasing sales before the holiday weekend and more bullish investor positioning for the second half of the year.
Earlier today, Baker Hughes reported that the number of rigs in operation in the U.S. was 431, up 10 rigs from June 24. Globally 955 rigs are in action this week, up 9 rigs in the same period.
Recently the U.S. crude oil stockpile has been in decline, falling to 526.6 million barrels from 543.3 million barrels in storage in April - an 86 year high - at the end of June. This 3% drop has been spurred in part by increased driving in the summer season.
Whiting Petroleum, a Denver-based oil and gas company, is set to announce fiscal second quarter earnings on July 27.
Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
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 feeble growth in its earnings per share.
You can view the full analysis from the report here: WLL
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.