Whiting Petroleum Corporation (WLL) Trading Down 0.5% Following Analyst Downgrade
Whiting Petroleum Corporation (NYSE:WLL)’s share price was down 0.5% during trading on Tuesday after Imperial Capital lowered their price target on the stock from $30.00 to $6.00. Imperial Capital currently has an in-line rating on the stock. Whiting Petroleum Corporation traded as low as $23.50 and last traded at $25.87. Approximately 6,693,700 shares changed hands during mid-day trading, an increase of 44% from the average daily volume of 4,655,280 shares. The stock had previously closed at $25.74.
WLL has been the subject of a number of other reports. Tudor Pickering lowered shares of Whiting Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 5th. ValuEngine lowered shares of Whiting Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Morgan Stanley set a $16.00 price target on shares of Whiting Petroleum Corporation and gave the stock a “sell” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised shares of Whiting Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Barclays PLC set a $20.00 target price on shares of Whiting Petroleum Corporation and gave the company a “hold” rating in a report on Wednesday, October 11th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $36.65.
A number of large investors have recently modified their holdings of the business. First Allied Advisory Services Inc. increased its stake in Whiting Petroleum Corporation by 24.5% during the third quarter. First Allied Advisory Services Inc. now owns 30,619 shares of the oil and gas exploration company’s stock worth $170,000 after purchasing an additional 6,034 shares during the period. Fine Capital Partners L.P. increased its stake in Whiting Petroleum Corporation by 23.7% during the third quarter. Fine Capital Partners L.P. now owns 26,394,454 shares of the oil and gas exploration company’s stock worth $144,114,000 after purchasing an additional 5,057,592 shares during the period. Magnetar Financial LLC purchased a new stake in Whiting Petroleum Corporation during the third quarter worth about $337,000. Brave Asset Management Inc. increased its stake in Whiting Petroleum Corporation by 63.0% during the third quarter. Brave Asset Management Inc. now owns 62,375 shares of the oil and gas exploration company’s stock worth $341,000 after purchasing an additional 24,100 shares during the period. Finally, National Planning Corp increased its stake in Whiting Petroleum Corporation by 10.4% during the third quarter. National Planning Corp now owns 86,175 shares of the oil and gas exploration company’s stock worth $471,000 after purchasing an additional 8,150 shares during the period. Institutional investors own 84.33% of the company’s stock.
The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.62.
Whiting Petroleum Corporation (NYSE:WLL) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas exploration company reported ($0.56) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.24. The company had revenue of $324.20 million for the quarter, compared to analyst estimates of $330.25 million. Whiting Petroleum Corporation had a negative net margin of 45.39% and a negative return on equity of 5.06%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.88) earnings per share. equities analysts predict that Whiting Petroleum Corporation will post -2.41 EPS for the current year.
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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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