UPDATE: Imperial Capital Initiates Whiting Petroleum at In-Line on Oil Price Risk

In a report published Wednesday, Imperial Capital analyst Ann Kohler initiated coverage on Whiting Petroleum WLL with an In-Line rating and $54.00 price target.

In the report, Imperial Capital noted, “We are initiating coverage of WLL with an In-Line rating and a one-year price target of $54, about 14% above the recent share price. With a 700,000+ net acre position in the Williston Basin, WLL is a leading Bakken player with exposure to many of the core areas in the Basin that offer superior economics, including its Sanish field. In addition, the company has exposure to emerging resources plays, including the Niobrara in the DJ Basin and the Delaware and Midland Basin horizontal plays in the Permian Basin. While WLL is extremely well positioned in the Bakken and benefits from exposure to several emerging plays, given our view of oil price risk, we are initiating coverage of WLL with an In-Line rating.”

Whiting Petroleum closed on Tuesday at $47.29.