Zacks Investment Research upgraded shares of Whiting Petroleum Corporation (NYSE:WLL) from a sell rating to a hold rating in a research note issued to investors on Tuesday, August 1st.
According to Zacks, “WHITING PETROLEUM CORPORATION, a Delaware corporation, is an independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States. The Company trades publicly under the symbol WLL on the New York Stock Exchange. “
A number of other brokerages have also weighed in on WLL. Royal Bank Of Canada restated a hold rating and issued a $12.00 price objective on shares of Whiting Petroleum Corporation in a report on Tuesday, April 25th. R. F. Lafferty boosted their price objective on shares of Whiting Petroleum Corporation from $14.00 to $15.00 and gave the stock a buy rating in a report on Thursday, April 27th. BMO Capital Markets restated a hold rating and issued a $10.00 price objective on shares of Whiting Petroleum Corporation in a report on Thursday, June 22nd. FBR & Co decreased their target price on shares of Whiting Petroleum Corporation from $13.00 to $11.00 and set a mkt perform rating on the stock in a research note on Wednesday, May 10th. Finally, Stifel Nicolaus decreased their target price on shares of Whiting Petroleum Corporation from $12.00 to $11.50 and set a buy rating on the stock in a research note on Thursday, July 27th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Whiting Petroleum Corporation presently has a consensus rating of Hold and a consensus target price of $11.28.
Whiting Petroleum Corporation (WLL) opened at 4.43 on Tuesday. The firm’s 50-day moving average is $5.05 and its 200 day moving average is $7.77. Whiting Petroleum Corporation has a 52-week low of $4.27 and a 52-week high of $13.39. The firm’s market capitalization is $1.61 billion. Whiting Petroleum Corporation also saw some unusual options trading activity on Wednesday. Stock traders bought 1,246 put options on the company. This represents an increase of 159% compared to the typical volume of 482 put options.
Whiting Petroleum Corporation (NYSE:WLL) last announced its earnings results on Wednesday, July 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. Whiting Petroleum Corporation had a negative net margin of 88.27% and a negative return on equity of 6.77%. The business had revenue of $311.50 million during the quarter, compared to analyst estimates of $345.64 million. During the same period in the previous year, the business posted ($0.70) earnings per share. Whiting Petroleum Corporation’s revenue for the quarter was down 7.6% on a year-over-year basis. Equities analysts anticipate that Whiting Petroleum Corporation will post ($0.71) EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank increased its stake in Whiting Petroleum Corporation by 26.2% in the fourth quarter. Comerica Bank now owns 28,832 shares of the oil and gas exploration company’s stock valued at $353,000 after buying an additional 5,988 shares during the period. Teachers Advisors LLC increased its stake in Whiting Petroleum Corporation by 274.9% in the fourth quarter. Teachers Advisors LLC now owns 1,051,101 shares of the oil and gas exploration company’s stock valued at $12,634,000 after buying an additional 770,726 shares during the period. Macquarie Group Ltd. increased its stake in Whiting Petroleum Corporation by 5.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,826,932 shares of the oil and gas exploration company’s stock valued at $21,960,000 after buying an additional 97,096 shares during the period. Foundry Partners LLC increased its stake in Whiting Petroleum Corporation by 13.8% in the first quarter. Foundry Partners LLC now owns 19,800 shares of the oil and gas exploration company’s stock valued at $187,000 after buying an additional 2,400 shares during the period. Finally, Creative Planning increased its stake in Whiting Petroleum Corporation by 26.2% in the first quarter. Creative Planning now owns 146,683 shares of the oil and gas exploration company’s stock valued at $1,388,000 after buying an additional 30,432 shares during the period. Institutional investors and hedge funds own 83.22% of the company’s stock.
About Whiting Petroleum Corporation
Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains region of the United States. It is engaged in the exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.
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