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Downgrade Alert for Whiting Petroleum (WLL)

By Nick Russo

Whiting Petroleum (NYSE:WLL) was downgraded from Buy to Neutral at Goldman Sachs today. The stock closed yesterday at $8.44 on volume of 24.9 million shares, below average daily volume of 28.9 million.

Whiting Petroleum Corporation is involved in oil and natural gas exploitation, acquisition, and exploration activities. The Company focuses on lower risk, long-lived oil and natural gas properties located primarily in the Gulf Coast/Permian Basin, Rocky Mountains, Michigan, and Mid-Continent regions of the United States.

Potential upside of 221.9% exists for Whiting Petroleum, based on a current level of $8.44 and analysts' average consensus price target of $27.17. The stock should find initial resistance at its 50-day moving average (MA) of $8.69 and further resistance at its 200-day MA of $12.90.

Over the past year, Whiting Petroleum has traded in a range of $3.35 to $39.15 and closed yesterday at $8.44, 152% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 2.4% while the 50-day MA has advanced 6.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Whiting Petroleum on June 16th, 2016 by issuing a Downtrend alert when the shares were trading at $10.97. Since that call, shares of Whiting Petroleum have fallen 23.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades whiting petroleum

Ticker(s): WLL