Whiting Petroleum (WLL) Upgraded to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of Whiting Petroleum (NYSE:WLL) from an equal weight rating to an overweight rating in a report published on Wednesday morning, Marketbeat.com reports. Morgan Stanley currently has $71.00 price target on the oil and gas exploration company’s stock, up from their prior price target of $50.48.

A number of other brokerages have also recently weighed in on WLL. Bank of America raised shares of Whiting Petroleum from a neutral rating to a buy rating in a research report on Thursday, May 10th. Stifel Nicolaus set a $49.00 price objective on shares of Whiting Petroleum and gave the company a buy rating in a research report on Monday, April 23rd. Johnson Rice initiated coverage on shares of Whiting Petroleum in a research report on Wednesday, March 21st. They issued a buy rating and a $58.00 price objective on the stock. BMO Capital Markets reaffirmed a hold rating and issued a $40.00 price objective on shares of Whiting Petroleum in a research report on Wednesday, April 11th. Finally, Seaport Global Securities raised shares of Whiting Petroleum from a neutral rating to a buy rating and set a $40.00 price objective on the stock in a research report on Wednesday, March 7th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Whiting Petroleum has a consensus rating of Hold and a consensus price target of $42.99.

Shares of NYSE WLL opened at $48.84 on Wednesday. The firm has a market cap of $4.60 billion, a PE ratio of -37.28, a PEG ratio of 2.42 and a beta of 2.90. Whiting Petroleum has a twelve month low of $15.88 and a twelve month high of $54.04. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.73.

Whiting Petroleum (NYSE:WLL) last announced its quarterly earnings results on Monday, April 30th. The oil and gas exploration company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 69.88% and a negative return on equity of 1.08%. The business’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) earnings per share. equities analysts anticipate that Whiting Petroleum will post 2.61 earnings per share for the current fiscal year.

In other Whiting Petroleum news, VP David M. Seery sold 1,059 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $27.77, for a total transaction of $29,408.43. Following the sale, the vice president now directly owns 37,122 shares of the company’s stock, valued at approximately $1,030,877.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Aveo Capital Partners LLC acquired a new position in shares of Whiting Petroleum during the 4th quarter worth about $306,000. Encompass Capital Advisors LLC acquired a new position in shares of Whiting Petroleum during the 4th quarter worth about $31,776,000. Gotham Asset Management LLC acquired a new position in shares of Whiting Petroleum during the 4th quarter worth about $2,686,000. Two Sigma Advisers LP acquired a new position in shares of Whiting Petroleum during the 4th quarter worth about $1,888,000. Finally, SIR Capital Management L.P. acquired a new position in shares of Whiting Petroleum during the 4th quarter worth about $8,801,000.

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.

Analyst Recommendations for Whiting Petroleum (NYSE:WLL)

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