Stifel Resumes Whiting Petroleum (WLL) at Hold

Stifel analyst Michael Scialla resumes coverage on Whiting Petroleum (NYSE: WLL) with a Hold rating and a price target of $60.00.

The analyst commented, "We are resuming coverage on WLL with a Hold rating and $60 target price. Despite the company's top tier cash margins and best-in-class balance sheet, the stock is among the least expensive in our mid-cap oil group. However, our 12-month target price of $60, based on 80% of our NAV/share estimate of $75 (assuming a long-term WTI oil price of $55), suggests the stock is fairly valued. We look for the new management team, installed following last year's bankruptcy, to improve and expand the company's drilling inventory via accretive acquisitions."

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 $59.43 yesterday.

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