NEW YORK (TheStreet) -- Whiting Petroleum (WLL) - Get Report shares are down 1.46% to $12.50 Thursday afternoon as oil prices dropped on concerns as to whether recent higher prices could spark more output to the supply glut.
Futures topped $50 a barrel earlier today given the disruptions to production and pipelines in Canada and Africa over the past few weeks.
However, oil prices could not hold onto earlier gains as analysts believe that supply disruptions are only temporary.
"We are bound for a correction soon because the fundamentals say there is still a lot of oil out there in floating storage," Michael Nielsen, senior derivatives trader at Global Risk Management told the Wall Street Journal.
Crude oil (WTI) is down 0.59% to $49.27 per barrel and Brent crude is sliding 0.7% to $49.29 per barrel.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade 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 feeble growth in its earnings per share.
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 article's author.
You can view the full analysis from the report here: WLL