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Recent Upgrades and Downgrades on Whiting Petroleum

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Nov. 20 2020, Updated 5:07 p.m. ET

Consensus ratings for Whiting Petroleum

Approximately 24% of analysts have rated Whiting Petroleum (WLL) a “strong buy” and ~55% have rated it as a “hold.” The average broker target price of $12.64 for WLL implies a return of ~4% over the next 12 months.

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Individual recommendations

Whiting Petroleum (WLL) was recently downgraded by Wells Fargo. On December 16, Wells Fargo downgraded its ratings for WLL from “outperform” to “market perform.” On the other hand, Stifel upgraded its ratings for WLL from “hold” to “buy” on December 1.

WLL’s peer Continental Resources (CLR) was recently downgraded by Deutsche Bank, J.P. Morgan (JPM), and KLR Group. On December 8, Deutsche Bank (DB) downgraded its ratings for CLR from “buy” to “hold.” On the same day, J.P. Morgan downgraded its ratings for CLR from “overweight” to “neutral.” KLR Group downgraded CLR from “accumulate” to “hold” on December 5.

In sharp contrast, Deutsche Bank (DB) upgraded its ratings for Antero Resources (AR) and Rice Energy (RICE) from “hold” to “buy,” just before it downgraded CLR. To learn more, please read Why Did Deutsche Bank Upgrade Antero and Rice to ‘Buy’?

Together, AR and RICE make up ~1.2% of the iShares US Oil & Gas Exploration & Production ETF (IEO).

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