Deutsche Bank Downgrades Whiting Petroleum (WLL) to Hold

Deutsche Bank downgraded Whiting Petroleum (NYSE: WLL) from Buy to Hold with a price target of $23.00 (from $29.00).

Analyst Josh Silverstein said, "Although we like the improved completion techniques and management being out front in aligning spending with cash flow, our previous positive thesis on WLL was predicated on an underperforming stock that would outperform with a return to a $60-70/bbl environment in 2016, a view that we no longer hold. While non-core asset sales should help reduce leverage and inventory economics are improving, the forward outlook for WLL (and the Bakken) is more reliant on an improving commodity, in our view."

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 $19.27 yesterday.

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