Whiting Petroleum (WLL) Stock Plummets as Oil Prices Drop

Whiting Petroleum (WLL) stock is taking a hit today as oil prices continue to retreat.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Whiting Petroleum  (WLL) - Get Report  are falling 5.99% to $7.69 in midday trade as oil prices slide to two and a half-month lows.

Crude oil (WTI) is down 2.22% to $43.21 per barrel and Brent crude is falling 1.9% to $44.82 per barrel.

Barclays said that demand for oil in the 2016 third quarter was growing at less than a third of the previous year's rate, CNBC reports.

A persistent U.S. stockpile and concerns over a worldwide fuel glut are weighing on the commodity.

"With the market increasingly trading on U.S. Department of Energy stats, this could be a catalyst for additional downside," Morgan Stanley added.

Whiting Petroleum is a Denver-based oil and gas company.

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:

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 deteriorating net income.

You can view the full analysis from the report here: WLL

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