UPDATE: Ladenburg Thalmann Raises PT on Whiting Petroleum to $70

Ladenburg Thalmann raises its price target on Whiting Petroleum

from $60 to $70 and reiterates its Buy rating on the company in a research report out today. In the report, Ladenburg Thalmann writes, "WLL reported recurring, diluted Q4 EPS/CFPS of $1.05/$2.77. Q4 production, which was pre-announced, increased 4.1% y-o-y, although was flat sequentially. Reiterate Buy rating and increasing our price target to $70 from $60 given our bullish near-term outlook for oil prices." Shares of Whiting Petroleum are currently trading at $59.72, up 5.59% from yesterday's close.