NEW YORK (TheStreet) -- Shares of Whiting Petroleum Inc. (WLL) - Get Report are down by 3.20% to $30.53 just before the market close on Friday afternoon, as declining oil prices have caused some energy and related stocks to plummet today.

Crude oil (WTI) is slumping by 5.78% to $48.48 per barrel and Brent crude is falling by 3.06% to $56.13 per barrel this afternoon, according to the index provided by CNBC.com.

Oil prices are in the red today as concerns ease regarding the possibility of supply disruptions resulting from Saudi Arabia's airstrikes against rebels fighting in Yemen.

Goldman Sachs (GS) - Get Report said that the bombings in Yemen would have little effect on oil supplies as the country is only a small crude exporter and tankers could avoid passing through its waters in order to reach their destination, Reuters reports.

On Wednesday Saudi Arabia announced that it would launch airstrikes against the Houthi rebels in the Yemini capital of Sanna, which continued into Thursday.

Yesterday oil prices skyrocketed due to concerns oil supplies would be disrupted by the fighting.

The bigger impact on oil would come from a nuclear deal with Iran, which could end up resulting in the relaxing of Western sanctions against Tehran and an increase in its oil reserve exports, Reuters noted.

TheStreet Ratings team rates WHITING PETROLEUM CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate WHITING PETROLEUM CORP (WLL) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its expanding profit margins over time. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• Despite the weak revenue results, WLL has outperformed against the industry average of 19.6%. Since the same quarter one year prior, revenues slightly dropped by 4.3%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
• The gross profit margin for WHITING PETROLEUM CORP is currently very high, coming in at 71.37%. Regardless of WLL's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, WLL's net profit margin of -52.00% significantly underperformed when compared to the industry average.
• Net operating cash flow has declined marginally to $466.00 million or 5.01% when compared to the same quarter last year. Despite a decrease in cash flow of 5.01%, WHITING PETROLEUM CORP is in line with the industry average cash flow growth rate of -11.68%.
• WHITING PETROLEUM CORP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, WHITING PETROLEUM CORP reported lower earnings of $0.80 versus $3.07 in the prior year. For the next year, the market is expecting a contraction of 171.3% in earnings (-$0.57 versus $0.80).
• The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income has significantly decreased by 496.8% when compared to the same quarter one year ago, falling from -$59.27 million to -$353.68 million.
• You can view the full analysis from the report here: WLL Ratings Report