Whiting Petroleum (WLL) Stock Falls on Lower Oil Prices

Whiting Petroleum (WLL) stock is down on oil prices that fell nearly 2% on Thursday after experiencing gains on Wednesday.
By Natalie Walters ,

NEW YORK (TheStreet) -- Shares of Whiting Petroleum (WLL) - Get Report are declining 3.41% to $8.50 in mid-afternoon trading, reflecting the nearly 2% drop in oil prices. 

Crude oil (WTI) is down 1.55% to $45.04 per barrel and Brent crude is decreasing 1.40% to $46.51 per barrel this afternoon.

The sliding oil prices come as U.S. government data revealed ample U.S. stockpiles of gasoline, Reuters reports. 

Additionally, U.S. crude inventories hit a historical high of 519.5 million barrels, the Energy Information Administration reported. 

"The market is technically weak, inventories are still high for summer, maintenance season is not far off and we have floating barrels at sea to top it all," Pete Donovan, Liquidity Energy broker, told Reuters.

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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