Mizuho Securities Starts Whiting Petroleum (WLL) at Neutral

October 5, 2016 4:10 PM EDT
Get Alerts WLL Hot Sheet
Price: $12.24 --0%

Rating Summary:
    23 Buy, 25 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade WLL Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Mizuho Securities initiates coverage on Whiting Petroleum (NYSE: WLL) with a Neutral rating and a price target of $9.00.

Analyst Timothy Rezvan commented, "While Whiting high-graded its Williston Basin footprint with 2014's Kodiak acquisition, it also created a leverage problem that persists today, and led to sharply declining production. Asset sales, debt exchanges and JVs help on the margin, but can't mitigate the impact of declining crude prices. WLL shares trade cheap to the group, as they have for several years (7.7x 2017E EV/EBITDA, 2.4 turns below group), given the impact of declining production. We remain on the sidelines for now, as we await further balance sheet healing amid prolonged oil price weakness."

For an analyst ratings summary and ratings history on Whiting Petroleum click here. For more ratings news on Whiting Petroleum click here.

Shares of Whiting Petroleum closed at $8.48 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities

Crude Oil, Definitive Agreement

Add Your Comment