Whiting Petroleum (WLL) Stock Falls on Lower Oil Prices
NEW YORK (TheStreet) -- Shares of Whiting Petroleum (WLL) - Get Report are falling 12.63% to $8.44 on heavy trading volume late Tuesday afternoon as lower oil prices weigh on shares of the Denver-based oil and gas producer.
WTI crude is decreasing 4.45% to $46.81 per barrel, while Brent crude is lower by 3.89% to $48.15 per barrel this afternoon.
Prices are tumbling on continued concerns that Britain's decision to leave the European Union will slow the global economy and weigh on energy demand.
Additionally, data from market intelligence firm Genscape indicate an increase of 230,025 barrels at the Cushing, OK storage hub for U.S. crude futures for the week ended July 1, Reuters reports.
About 32.46 million shares of Whiting Petroleum have been traded so far today vs. the company's average trading volume of roughly 22.81 million shares per day.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
Whiting Petroleum's weaknesses include 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
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 article's author.