Whiting Petroleum Corporation (NYSE:WLL) had its price target decreased by research analysts at J P Morgan Chase & Co from $8.00 to $7.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. J P Morgan Chase & Co’s price target would suggest a potential upside of 16.47% from the stock’s previous close.
Several other equities analysts have also recently weighed in on WLL. BidaskClub raised Whiting Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Zacks Investment Research cut Whiting Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Citigroup Inc. decreased their target price on Whiting Petroleum Corporation from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. Bank of America Corporation started coverage on Whiting Petroleum Corporation in a report on Wednesday, July 19th. They issued an “underperform” rating and a $6.00 target price on the stock. Finally, Cowen and Company set a $8.00 target price on Whiting Petroleum Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $9.13.
Shares of Whiting Petroleum Corporation (NYSE:WLL) traded up 7.99% during mid-day trading on Wednesday, reaching $6.49. The company had a trading volume of 10,308,716 shares. The company has a 50 day moving average price of $5.25 and a 200 day moving average price of $5.91. Whiting Petroleum Corporation has a one year low of $3.97 and a one year high of $13.39. The company’s market capitalization is $2.35 billion.
Whiting Petroleum Corporation (NYSE:WLL) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.06. The firm had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $330.25 million. Whiting Petroleum Corporation had a negative return on equity of 5.06% and a negative net margin of 45.39%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) EPS. On average, analysts anticipate that Whiting Petroleum Corporation will post ($0.62) EPS for the current year.
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Several institutional investors have recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Whiting Petroleum Corporation in the 3rd quarter valued at approximately $1,060,000. TrueNorth Inc. grew its stake in shares of Whiting Petroleum Corporation by 97.6% in the 3rd quarter. TrueNorth Inc. now owns 52,626 shares of the oil and gas exploration company’s stock valued at $287,000 after buying an additional 25,997 shares during the period. Shell Asset Management Co. purchased a new stake in shares of Whiting Petroleum Corporation in the 3rd quarter valued at approximately $1,565,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Whiting Petroleum Corporation in the 2nd quarter valued at approximately $8,265,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of 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 buying an additional 7,742 shares during the period. 83.23% of the stock is 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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