Beach Point Capital Management LP Holds Position in Whiting Petroleum Corporation (NYSE:WLL)

Beach Point Capital Management LP held its stake in Whiting Petroleum Corporation (NYSE:WLL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,066,095 shares of the oil and gas exploration company’s stock at the end of the second quarter. Whiting Petroleum Corporation accounts for about 2.8% of Beach Point Capital Management LP’s holdings, making the stock its 14th largest position. Beach Point Capital Management LP owned 0.57% of Whiting Petroleum Corporation worth $11,384,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WLL. Campbell & CO Investment Adviser LLC boosted its position in shares of Whiting Petroleum Corporation by 24.4% in the second quarter. Campbell & CO Investment Adviser LLC now owns 20,349 shares of the oil and gas exploration company’s stock valued at $112,000 after buying an additional 3,988 shares in the last quarter. World Asset Management Inc boosted its position in shares of Whiting Petroleum Corporation by 4.7% in the first quarter. World Asset Management Inc now owns 12,665 shares of the oil and gas exploration company’s stock valued at $120,000 after buying an additional 570 shares in the last quarter. Palisade Capital Management LLC NJ acquired a new position in shares of Whiting Petroleum Corporation during the second quarter valued at approximately $121,000. Gotham Asset Management LLC boosted its position in shares of Whiting Petroleum Corporation by 22.8% in the first quarter. Gotham Asset Management LLC now owns 13,801 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,566 shares in the last quarter. Finally, Capital Innovations LLC acquired a new position in shares of Whiting Petroleum Corporation during the first quarter valued at approximately $133,000. Hedge funds and other institutional investors own 82.63% of the company’s stock.

Whiting Petroleum Corporation (WLL) opened at 4.75 on Friday. The firm has a 50-day moving average of $5.20 and a 200-day moving average of $8.08. Whiting Petroleum Corporation has a 1-year low of $4.61 and a 1-year high of $13.39. The firm’s market capitalization is $1.72 billion.

Whiting Petroleum Corporation (NYSE:WLL) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $311.50 million for the quarter, compared to the consensus estimate of $345.64 million. During the same period last year, the firm posted ($0.70) EPS. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts expect that Whiting Petroleum Corporation will post ($0.71) earnings per share for the current year.

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WLL has been the subject of several recent research reports. FBR & Co decreased their price target on shares of Whiting Petroleum Corporation from $13.00 to $11.00 and set a “mkt perform” rating for the company in a research report on Wednesday, May 10th. Credit Suisse Group reissued an “outperform” rating and issued a $15.00 price target on shares of Whiting Petroleum Corporation in a research report on Monday, May 8th. R. F. Lafferty raised their price target on shares of Whiting Petroleum Corporation from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. BMO Capital Markets set a $10.00 price target on shares of Whiting Petroleum Corporation and gave the company a “hold” rating in a research report on Monday, May 15th. Finally, Royal Bank Of Canada set a $12.00 price target on shares of Whiting Petroleum Corporation and gave the company a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $11.28.

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.

Institutional Ownership by Quarter for Whiting Petroleum Corporation (NYSE:WLL)

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