Will Whiting Petroleum (WLL) Stock Be Hurt by Goldman Downgrade?
NEW YORK (TheStreet) -- Shares of Whiting Petroleum (WLL) - Get Report are advancing 1.3% to $8.55 on Wednesday morning even though Goldman Sachs downgraded the stock to "neutral" from "buy."
The firm said anticipated dilution from Whiting's agreements to reduce debt may keep downward pressure on the stock in the near-term, the Fly reports.
Goldman also cut its price target on the stock to $12.75 from $13.75.
Additionally, oil prices are mixed this morning. Crude oil (WTI) is increasing 0.17% to $46.68 per barrel, while Brent crude is down 0.4% to $47.77 per barrel.
Whiting is a Denver-based independent oil and gas company.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
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.
Recently, 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.
You can view the full analysis from the report here: WLL