Wall Street analysts forecast that Whiting Petroleum Co. (NYSE:WLL) will post sales of $485.85 million for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for Whiting Petroleum’s earnings. The highest sales estimate is $534.90 million and the lowest is $460.46 million. Whiting Petroleum reported sales of $311.52 million in the same quarter last year, which indicates a positive year over year growth rate of 56%. The business is expected to announce its next quarterly earnings report on Wednesday, July 25th.
According to Zacks, analysts expect that Whiting Petroleum will report full year sales of $2.01 billion for the current financial year, with estimates ranging from $1.90 billion to $2.19 billion. For the next year, analysts forecast that the business will report sales of $2.15 billion per share, with estimates ranging from $1.96 billion to $2.56 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Whiting Petroleum.
Whiting Petroleum (NYSE:WLL) last released its earnings results on Monday, April 30th. The oil and gas exploration company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.70. Whiting Petroleum had a negative return on equity of 1.08% and a negative net margin of 69.88%. The firm had revenue of $515.10 million during the quarter, compared to the consensus estimate of $476.68 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue was up 38.7% compared to the same quarter last year.
Several brokerages recently weighed in on WLL. Stifel Nicolaus lifted their price target on Whiting Petroleum from $49.00 to $63.00 and gave the company a “buy” rating in a research report on Friday. Bank of America upgraded Whiting Petroleum from a “neutral” rating to a “buy” rating in a research report on Thursday, May 10th. Robert W. Baird lifted their price target on Whiting Petroleum from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, May 7th. Imperial Capital lifted their price target on Whiting Petroleum from $40.00 to $45.00 and gave the company a “line” rating in a research report on Wednesday, May 2nd. Finally, TheStreet upgraded Whiting Petroleum from a “d” rating to a “c-” rating in a research report on Monday, April 30th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company. Whiting Petroleum currently has an average rating of “Hold” and an average price target of $41.55.
In related news, VP David M. Seery sold 1,059 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $27.77, for a total transaction of $29,408.43. Following the completion of the sale, the vice president now directly owns 37,122 shares in the company, valued at $1,030,877.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Whiting Petroleum during the fourth quarter worth approximately $138,000. Aull & Monroe Investment Management Corp purchased a new stake in shares of Whiting Petroleum during the first quarter worth approximately $206,000. Syntal Capital Partners LLC purchased a new stake in shares of Whiting Petroleum during the first quarter worth approximately $225,000. M&T Bank Corp purchased a new stake in shares of Whiting Petroleum during the first quarter worth approximately $236,000. Finally, Sapphire Star Partners LP purchased a new stake in shares of Whiting Petroleum during the first quarter worth approximately $237,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.
Whiting Petroleum traded up $0.25, hitting $52.01, during trading on Friday, MarketBeat reports. 4,607,226 shares of the company traded hands, compared to its average volume of 5,086,283. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.73. The stock has a market cap of $4.71 billion, a P/E ratio of -39.70, a P/E/G ratio of 2.80 and a beta of 2.90. Whiting Petroleum has a 1 year low of $15.88 and a 1 year high of $52.07.
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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