Fly News Breaks for October 10, 2019
Oct 10, 2019 | 07:56 EDT
As previously reported, Seaport Global analyst Mike Kelly downgraded Whiting Petroleum to Neutral from Buy. The rating change was among 13 downgrades made in the E&P sector by Kelly, who contends that "the 2020 oil macro set up is a mess." On Whiting specifically, he said liquidity has become the focus as the company deals with debt maturities and as leverage creeps up. The 2020 outlook "looks uninspiring for an equity holder" if oil is at $51.50, concludes Kelly.
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