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Downgrade Alert for Whiting Petroleum (WLL)

By James Quinn

Whiting Petroleum (NYSE:WLL) was downgraded from Buy to Hold at Cantor today. The stock closed yesterday at $11.44 on volume of 26.9 million shares, below average daily volume of 29.2 million.

In the past 52 weeks, Whiting Petroleum share prices have been bracketed by a low of $3.35 and a high of $39.15 and closed yesterday at $11.44, 241% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2.2% while the 50-day MA has advanced 4.5%.

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 137.5% exists for Whiting Petroleum, based on a current level of $11.44 and analysts' average consensus price target of $27.17. The stock should find resistance at its 200-day moving average (MA) of $13.57, as well as support at its 50-day MA of $7.63.

SmarTrend recommended that subscribers consider buying shares of Whiting Petroleum on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.87. Since that recommendation, shares of Whiting Petroleum have risen 88.7%. We continue to monitor WLL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades whiting petroleum

Ticker(s): WLL