NEW YORK (TheStreet) -- Shares of Whiting Petroleum (WLL) are climbing, higher by 1.82% to $30.75 this morning, as U.S. stocks rally after the Federal Reserve said yesterday that it would be patient in increasing interest rates.
Brent crude plunged to a five-year low of $58.50 per barrel earlier this week, but Brent futures for January delivery rallied to $61.12 at 11:01 a.m. today, while WTI Crude traded at $56.24 per barrel.
The Energy Information Administration released its report yesterday that showed crude inventories declined by 800,000 barrels to 379.9 million in the week ended December 12.
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 revenue growth, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: