Whiting Petroleum (WLL) rated a BUY by Truist

[dan_s]

Whiting Petroleum Corporation (WLL, $17.10, Buy with a price target of $32) by Neil Dingman at Truist

Buy WLL Before the Street Starts Caring Again - If you rank our E&P coverage universe #1 (best) to #42 (worst) in all major metrics and combine them, WLL ranks the best; we forecast it is #1 on CFPS growth y/y, #2 on debt/EBITDA, #4 on EV/EBITDA, and #7 BBERG +77 vs our +78 on FCF yield. When an E&P screens that strongly the question is, “what is wrong with it?”. Our answer is “nothing”; we believe Whiting simply has not gotten notable sell side or buy side focus for a number of reasons. In our opinion, WLL is the proverbial "fat pitch" given new shareholder aligned management and a materially sub-PDP valuation (assuming ~$1.9B PDP). - Neal Dingmann