Imperial Capital Begins Coverage on Whiting Petroleum Corporation (WLL)
Imperial Capital began coverage on shares of Whiting Petroleum Corporation (NYSE:WLL) in a report released on Thursday, MarketBeat Ratings reports. The brokerage issued an in-line rating and a $6.00 price objective on the oil and gas exploration company’s stock.
A number of other analysts also recently weighed in on the company. Credit Suisse Group downgraded Whiting Petroleum Corporation from an outperform rating to a neutral rating and set a $13.00 price objective for the company. in a report on Thursday, June 1st. Royal Bank Of Canada set a $12.00 price objective on Whiting Petroleum Corporation and gave the company a hold rating in a report on Friday, June 2nd. Seaport Global Securities downgraded Whiting Petroleum Corporation from a neutral rating to a sell rating and decreased their price objective for the company from $10.00 to $4.00 in a report on Wednesday, June 21st. Tudor Pickering downgraded Whiting Petroleum Corporation from a hold rating to a sell rating in a report on Tuesday, September 5th. Finally, 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. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $10.40.
Shares of Whiting Petroleum Corporation (WLL) opened at 5.46 on Thursday. The company’s 50 day moving average price is $4.60 and its 200-day moving average price is $6.72. Whiting Petroleum Corporation has a 52 week low of $3.97 and a 52 week high of $13.39. The firm’s market capitalization is $1.98 billion.
Whiting Petroleum Corporation (NYSE:WLL) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas exploration company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.01. The business had revenue of $311.50 million during the quarter, compared to the consensus estimate of $345.64 million. Whiting Petroleum Corporation had a negative return on equity of 6.77% and a negative net margin of 88.27%. Whiting Petroleum Corporation’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.70) earnings per share. On average, equities research analysts expect that Whiting Petroleum Corporation will post ($0.70) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Davidson Kempner Capital Management LP bought a new position in Whiting Petroleum Corporation in the 2nd quarter valued at about $8,265,000. Dynamic Technology Lab Private Ltd lifted its position in Whiting Petroleum Corporation by 19.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 46,738 shares of the oil and gas exploration company’s stock valued at $258,000 after acquiring an additional 7,742 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Whiting Petroleum Corporation by 75.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 159,990 shares of the oil and gas exploration company’s stock valued at $882,000 after acquiring an additional 68,808 shares in the last quarter. Wealthsource Partners LLC lifted its position in Whiting Petroleum Corporation by 72.3% in the 2nd quarter. Wealthsource Partners LLC now owns 52,625 shares of the oil and gas exploration company’s stock valued at $290,000 after acquiring an additional 22,075 shares in the last quarter. Finally, Proxima Capital Management LLC lifted its position in Whiting Petroleum Corporation by 22.8% in the 2nd quarter. Proxima Capital Management LLC now owns 860,000 shares of the oil and gas exploration company’s stock valued at $4,739,000 after acquiring an additional 159,400 shares in the last quarter. 84.40% of the stock is currently owned by institutional investors and hedge funds.
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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