NEW YORK (TheStreet) -- Shares of Whiting Petroleum Corp. (WLL) finished the day in the green, up by 1.95% to $32.99 on Friday as some energy and related stocks got a jolt from the afternoon rally in oil prices.
The commodity was gaining due to data released today showing another 13 rigs were pulled from U.S. oil fields, Reuters reports. This is the 25th straight weekly drop and the biggest decline in four weeks.
The total rig count now stands at 646, its lowest level since August 2010, Reuters added.
Crude oil (WTI) is up by 4.40% to $60.22 per barrel and Brent crude gained by 4.59% to $65.45 per barrel, according to the CNBC.com index.
Whiting Petroleum is an independent oil and gas company based in Denver, Colo.
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."