Credit Suisse Assumes Coverage Of WLL

Credit Suisse analyst Mark Lear is assuming primary coverage of Whiting Petroleum (NYSE: WLL).

“Our Outperform Rating and $83 Target Price remain unchanged,” Credit Suisse writes. “On 4/27, WLL reported adjusted 1Q11 EPS of $0.84 vs. our $0.83 estimate and the First call consensus estimate of $0.90. Relative to our estimate, the variance was due to higher realized prices (+$0.08), higher production (+$0.02), which was offset by exploration (-$0.05), DD&A (-$0.02) and higher G&A and other expense (-$0.02).”

Whiting Petroleum currently trades at $68.82.