NEW YORK (TheStreet) -- Shares of Whiting Petroleum Corp. (WLL) - Get Report are advancing by 1.88% to $3.79 in after-hours trading on Wednesday, after the company reported its 2015 fourth quarter results.
After today's market close, the Denver-based oil and gas company posted a net loss of 43 cents per share, wider than analysts' expectations for a loss of 30 cents per share.
Revenue for the period was $423.5 million, missing analysts' estimates of $493.5 million.
"In 2015, we took decisive action to position our company for a 'lower for longer' oil price environment. We proactively accessed the capital markets in early 2015 to strengthen our balance sheet and enhance our liquidity," CEO James J. Volker said in a statement.
Additionally, production during the quarter averaged 155,210 barrels of oil equivalent per day, at the high end of production guidance. The better-than-expected results in the Williston Basin were due to enhanced completions and an increase in gas capture rates across its acreage position, the company said.
Whiting Petroleum is engaged in the exploration, development, acquisition and production of crude oil, NGLs and natural gas in the Rocky Mountains and Permian Basin regions of the U.S.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
This is driven by some concerns, which 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 covered.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk, disappointing return on equity and weak operating cash flow.
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