Whiting Petroleum (WLL) Stock Down on Lower Oil Prices

Whiting Petroleum (WLL) stock is trading lower this afternoon as oil prices slipped on Tuesday, with forecasts saying U.S. crude stockpiles will drop for the ninth consecutive week.
By Natalie Walters ,

NEW YORK (TheStreet) -- Shares of Whiting Petroleum (WLL) - Get Report are sliding 0.28% to $8.76 on Tuesday afternoon, reflecting the slight dip in oil prices. 

Crude oil (WTI) is down 1.28% to $44.66 per barrel and Brent crude is decreasing 0.53% to $46.71 per barrel this afternoon.

The declining oil prices come as a rallying dollar and global fuel oversupply offset forecasts for a ninth week of decreasing U.S. crude supplies, Reuters reports.

"Today's action is much of the same we have seen over the last few weeks, which is consolidating recent gains within a narrow trading range," Chris Jarvis, analyst at Caprock Risk Management, told Reuters.

The American Petroleum Institute is set to release its inventory report today after the market close. 

Whiting Petroleum is a Denver-based independent oil and gas company that focuses on development, production, acquisition and exploration activities.

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 multiple 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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