Whiting Petroleum (WLL) Shares Gap Down to $28.67

Whiting Petroleum Corp (NYSE:WLL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $29.34, but opened at $28.67. Whiting Petroleum shares last traded at $27.47, with a volume of 3741959 shares traded.

Several equities analysts recently weighed in on WLL shares. Morgan Stanley cut their price target on shares of Whiting Petroleum from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, November 5th. Zacks Investment Research raised shares of Whiting Petroleum from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Saturday, October 13th. Capital One Financial cut shares of Whiting Petroleum from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a research note on Monday, October 8th. Credit Suisse Group dropped their price objective on shares of Whiting Petroleum from $55.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Finally, JPMorgan Chase & Co. set a $26.00 price objective on shares of Whiting Petroleum and gave the stock a “hold” rating in a research note on Friday, December 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $51.14.

The company has a market cap of $2.61 billion, a PE ratio of -20.97 and a beta of 2.94. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70.

Whiting Petroleum (NYSE:WLL) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.34. The firm had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $522.00 million. Whiting Petroleum had a negative net margin of 31.68% and a positive return on equity of 5.30%. The firm’s revenue for the quarter was up 74.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) EPS. As a group, research analysts anticipate that Whiting Petroleum Corp will post 3.1 earnings per share for the current year.

In other Whiting Petroleum news, Director William N. Hahne sold 2,300 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $36.85, for a total value of $84,755.00. Following the transaction, the director now owns 20,914 shares in the company, valued at approximately $770,680.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in WLL. FMR LLC lifted its holdings in Whiting Petroleum by 79.9% in the 2nd quarter. FMR LLC now owns 13,203,744 shares of the oil and gas exploration company’s stock valued at $696,101,000 after purchasing an additional 5,865,141 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Whiting Petroleum during the 2nd quarter worth $48,052,000. AQR Capital Management LLC raised its holdings in shares of Whiting Petroleum by 604.5% during the 3rd quarter. AQR Capital Management LLC now owns 911,874 shares of the oil and gas exploration company’s stock worth $48,366,000 after acquiring an additional 782,430 shares during the period. Deutsche Bank AG raised its holdings in shares of Whiting Petroleum by 46.4% during the 3rd quarter. Deutsche Bank AG now owns 1,473,323 shares of the oil and gas exploration company’s stock worth $78,143,000 after acquiring an additional 467,197 shares during the period. Finally, TCW Group Inc. raised its holdings in shares of Whiting Petroleum by 1,197.8% during the 3rd quarter. TCW Group Inc. now owns 506,077 shares of the oil and gas exploration company’s stock worth $26,842,000 after acquiring an additional 467,082 shares during the period. Institutional investors own 94.46% of the company’s stock.

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Whiting Petroleum Company Profile (NYSE:WLL)

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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