Whiting Petroleum Corp (NYSE:WLL) – Equities researchers at Piper Jaffray Companies increased their Q2 2018 earnings estimates for shares of Whiting Petroleum in a research note issued on Sunday, May 20th, Zacks Investment Research reports. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas exploration company will earn $0.85 per share for the quarter, up from their prior forecast of $0.33. Piper Jaffray Companies has a “Hold” rating and a $46.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Whiting Petroleum’s Q3 2018 earnings at $0.97 EPS, Q4 2018 earnings at $1.16 EPS, FY2018 earnings at $3.90 EPS, Q1 2019 earnings at $1.70 EPS, Q2 2019 earnings at $1.48 EPS, Q3 2019 earnings at $1.47 EPS, Q4 2019 earnings at $1.59 EPS and FY2019 earnings at $6.24 EPS.
Whiting Petroleum (NYSE:WLL) last posted its earnings results on Monday, April 30th. The oil and gas exploration company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.70. The company had revenue of $515.10 million for the quarter, compared to analysts’ expectations of $476.68 million. Whiting Petroleum had a negative return on equity of 1.08% and a negative net margin of 69.88%. Whiting Petroleum’s quarterly revenue was up 38.7% on a year-over-year basis. During the same period last year, the firm earned ($0.15) earnings per share.
Several other analysts have also recently issued reports on WLL. Zacks Investment Research cut Whiting Petroleum from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. UBS Group started coverage on Whiting Petroleum in a research note on Wednesday, March 7th. They issued a “neutral” rating and a $32.00 target price on the stock. Seaport Global Securities raised Whiting Petroleum from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, March 7th. Bank of America raised Whiting Petroleum from an “underperform” rating to a “neutral” rating and set a $6.00 target price on the stock in a research note on Thursday, March 8th. Finally, Johnson Rice started coverage on Whiting Petroleum in a research note on Wednesday, March 21st. They issued a “buy” rating and a $58.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Whiting Petroleum currently has a consensus rating of “Buy” and an average price target of $45.61.
Shares of Whiting Petroleum traded down $0.94, hitting $51.64, during trading hours on Wednesday, according to MarketBeat.com. The company’s stock had a trading volume of 3,382,400 shares, compared to its average volume of 4,933,215. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $4.87 billion, a PE ratio of -39.42, a PEG ratio of 2.46 and a beta of 2.97. Whiting Petroleum has a 12 month low of $15.88 and a 12 month high of $55.07.
Several hedge funds have recently added to or reduced their stakes in the company. Foundry Partners LLC purchased a new position in shares of Whiting Petroleum during the first quarter valued at approximately $3,671,000. Millennium Management LLC lifted its holdings in shares of Whiting Petroleum by 44.9% during the first quarter. Millennium Management LLC now owns 2,130,901 shares of the oil and gas exploration company’s stock valued at $72,110,000 after purchasing an additional 659,949 shares during the last quarter. Syntal Capital Partners LLC purchased a new position in Whiting Petroleum in the 1st quarter worth approximately $225,000. Verition Fund Management LLC raised its holdings in Whiting Petroleum by 38.2% in the 1st quarter. Verition Fund Management LLC now owns 25,000 shares of the oil and gas exploration company’s stock worth $846,000 after acquiring an additional 6,913 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Whiting Petroleum by 706.0% in the 1st quarter. Point72 Asset Management L.P. now owns 320,000 shares of the oil and gas exploration company’s stock worth $10,829,000 after acquiring an additional 280,300 shares during the last quarter. Hedge funds and other institutional investors own 99.81% of the company’s stock.
Whiting Petroleum Company Profile
Whiting Petroleum Corporation engages in the acquisition, exploration, development, and production of crude oil, natural gas liquids, and natural gas primarily in the Rocky Mountains region of the United States. The company sells its oil and gas production to end users, marketers, and other purchasers.
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