Market Overview

UPDATE: Wunderlich Securities Initiates Whiting Petroleum Corporation with Buy and $50 PT

Share:
Related WLL
Few U.S. Shale Companies Added To Hedges In Q2
Mid-Afternoon Market Update: NASDAQ Down 1.3%; Medicines Company Shares Gain Following Announcement Of Positive ALN-PCSsc Study Results
How Lowered Growth Expectations Affect Shale Producer Base Decline Rates (Seeking Alpha)

Wunderlich Securities initiates its coverage on Whiting Petroleum Corporation (NYSE: WLL) with a Buy rating and a price target of $50.

Wunderlich Securities comments, "Whiting has been able to build and define highly economic prospects throughout the Williston basin, Permian basin, and Niobrara formation that we believe should allow it to grow production and reserves significantly over the next few years. The recent monetization of legacy assets has also improved liquidity and reduced operating costs, which should lead to better margins and gives Whiting strong financials it can utilize to execute its growth strategy. We believe the current valuation of the stock is compelling given that it trades at a discount to peers despite Whiting's expected production growth and increasing inventory."

WLL closed at $42.50 on Wednesday.

Latest Ratings for WLL

DateFirmActionFromTo
Sep 2015IBERIAAssumesSector Perform
Aug 2015Bank of AmericaDowngradesBuyNeutral
Aug 2015SusquehannaMaintainsPositive

View More Analyst Ratings for WLL
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

 

Related Articles (WLL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters