NEW YORK (TheStreet) -- Shares of Whiting Petroleum (WLL) - Get Report are gaining by 12.61% to $3.97 early Friday afternoon, as the price of oil climbs, driving some energy and related stocks into the green.
Brent crude is on track for its first weekly gain in a month, Reuters reports. Strong U.S. gasoline demand and the hope that OPEC will take action to cap production are outweighing concerns about the global over supply.
Crude oil (WTI) is rising by 1.57% to $33.65 per barrel and Brent crude is soaring by 2.72% to $36.25 per barrel.
Data from the U.S. government showed that economic growth slowed in the fourth quarter, but not by as much as had been initially thought, Reuters added.
Gross domestic product grew at a 1% annual rate rather than the previously reported 0.7% rate.
Whiting Petroleum is a Denver CO-based independent oil and gas company that explores for, develops and produces crude oil, natural gas liquids and natural gas.
Separately, TheStreet Ratings has set a "sell" rating and a score of D on Whiting Petroleum stock. This is driven by multiple weaknesses, which TheStreet Ratings believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers.
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 and generally disappointing historical performance in the stock itself.
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