Whiting Petroleum (WLL) Stock Spikes as Oil Prices Rise

Whiting Petroleum (WLL) stock is up on Tuesday amid an increase in oil prices.
By Amanda Albright ,

NEW YORK (TheStreet) -- Whiting Petroleum (WLL) - Get Report stock is up by 7.28% to $19.16 in mid-morning trading on Tuesday, due to today's increase in oil prices.

WTI Crude is up by 2.51% to $47.30 per barrel, while Brent crude is up by 2.34% to $49.93 per barrel this morning, according to the CNBC.com index.

Oil is recovering as an absence of negative news has brought buying interest into the market, SEB chief commodities analyst Bjarne Schieldrop told Reuters.

"There are so many bullish views out there that oil will come off the bottom and move higher and that non-OPEC oil production will fall, and some are looking for an excuse to buy," he said.

Denver-based Whiting Petroleum is an independent oil and gas company with assets in the Rocky Mountains and the Permian Basin region.

Insight from TheStreet's Rating Team

Whiting Petroleum is a core holding of David Peltier's Stocks Under $10 portfolio. Here is what David Peltier had to say about the stock in his most recent "Weekly Roundup."

Whiting Petroleum: The company explores for oil and gas in the Permian, Williston and Green River basins. The shares fell 5% this week, as management announced mixed quarterly results on Wednesday. We believe that Whiting can continue to navigate a lower pricing environment in the coming quarters. WLL is an Inflection Point stock and has a price target of $51.

-David Peltier's "Stocks Under $10 Weekly Summary" originally published on 10/30/15 on Stocks Under $10.

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