NEW YORK (TheStreet) -- Shares of Whiting Petroleum (WLL) - Get Report are slipping by 1.15% to $35.34 in late afternoon trading on Wednesday, as the decline in oil prices brings some energy and related stocks down today.
The commodity is falling after data from the Energy Information Administration showed an unexpected rise in gasoline stocks, but a greater than expected decline in U.S. crude inventories, Reuters reports.
Gasoline stocks increased by 680,000 barrels last week. Analysts polled by Reuters had forecast for a 304,000-barrel drop.
Crude inventories declined by 4.9 million barrels last week, while analysts were expecting a 2.1 million barrel reduction.
Crude oil (WTI) is falling by 1.21% to $60.27 per barrel and Brent crude is retreating by 1.46% to $63.51 per barrel this afternoon, according to the CNBC.com index.
Whiting Petroleum is a Denver, CO.-based independent oil and gas company.
Insight from TheStreet Research Team:
Whiting Petroleum is a core holding of David Peltier's Stocks Under $10 Portfolio. During the most recent weekly round up here is what Dave had to say about it:
The company explores for oil and gas in the Permian Basin, Williston Basin and Green River Basin. The stock rebounded more than 2% this week, as Whiting was upgraded on Wednesday to Buy from Neutral. We believe that management can boost production in the coming quarters while keeping a tight lid on costs.
-David Peltier 'Stocks Under $10 Weekly Round Up' Originally Published on Stocks Under $10 on June 19, 2015.
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Separately, 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. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."
You can view the full analysis from the report here: WLL Ratings Report