Ticonderoga Reiterates a 'Buy' on Whiting Petroleum (WLL); Overreaction to Disappointing Wells in Lewis & Clark
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Price: $68.03 --0%
Rating Summary:
13 Buy, 28 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 28 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ticonderoga reiterates a 'Buy' on Whiting Petroleum (NYSE: WLL), PT $82.
Ticonderoga analyst says, "Shares of Whiting Petroleum are down roughly 5% today as weather and mechanical-related issues resulted in unsuccessful frac jobs and low rates of production in two separate wells in the company’s Lewis & Clark development in the Williston Basin. While we understand the market’s concern, we believe the sell-off is an overreaction given the early stage of the play and management’s comments during the call. We still believe drilling results will continue to improve throughout the basin as WLL and other companies increase their knowledge of the geology, experiment with different drilling and completion techniques, and take advantage of new technology being introduced into the play."
For more ratings news on Whiting Petroleum click here and for the rating history of Whiting Petroleum click here.
Shares of Whiting Petroleum closed at $69.00 yesterday.
Ticonderoga analyst says, "Shares of Whiting Petroleum are down roughly 5% today as weather and mechanical-related issues resulted in unsuccessful frac jobs and low rates of production in two separate wells in the company’s Lewis & Clark development in the Williston Basin. While we understand the market’s concern, we believe the sell-off is an overreaction given the early stage of the play and management’s comments during the call. We still believe drilling results will continue to improve throughout the basin as WLL and other companies increase their knowledge of the geology, experiment with different drilling and completion techniques, and take advantage of new technology being introduced into the play."
For more ratings news on Whiting Petroleum click here and for the rating history of Whiting Petroleum click here.
Shares of Whiting Petroleum closed at $69.00 yesterday.
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