Whiting Petroleum, Range Resources remain top picks, says Brean Capital Brean Capital calls Range Resources (RRC) and Whiting Petroleum (WLL) its top picks for the remainder of the earnings season. The firm expects Range to show continued improvement in its Marcellus acreage and more details around the sale of its Permian assets while Whiting should offer insight on when monetization of its Bakken, Piostle, and Niobra acreage will occur. Both Range and Whiting are Buy rated.
Whiting Petroleum downgraded to Neutral from Buy at BofA/Merrill BofA/Merrill downgraded Continental Resources to Neutral and lowered its price target to $27 from $38. The firm downgraded shares based on potential extended commodity weakness and the impact on investment.