Whiting Petroleum (NYSE:WLL) had its target price lowered by Credit Suisse Group from $55.00 to $50.00 in a research note issued to investors on Wednesday morning. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.
A number of other research firms have also commented on WLL. Citigroup began coverage on Whiting Petroleum in a research report on Tuesday, October 2nd. They set a top pick rating and a $67.00 price target on the stock. Oppenheimer began coverage on Whiting Petroleum in a research report on Wednesday, October 3rd. They set an outperform rating and a $67.00 price target on the stock. Morgan Stanley dropped their price target on Whiting Petroleum from $71.00 to $65.00 and set an overweight rating on the stock in a research report on Thursday, July 12th. SunTrust Banks raised their price target on Whiting Petroleum to $70.00 and gave the stock a buy rating in a research report on Thursday, July 5th. Finally, R. F. Lafferty raised Whiting Petroleum from a hold rating to a buy rating and raised their price target for the stock from $42.00 to $56.00 in a research report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $52.41.
NYSE:WLL opened at $34.22 on Wednesday. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -26.12, a P/E/G ratio of 1.51 and a beta of 2.94. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. Whiting Petroleum has a 1-year low of $21.38 and a 1-year high of $56.47.
Whiting Petroleum (NYSE:WLL) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.34. The company had revenue of $566.70 million for the quarter, compared to analyst estimates of $522.00 million. Whiting Petroleum had a positive return on equity of 5.34% and a negative net margin of 31.68%. Whiting Petroleum’s revenue was up 74.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. Research analysts anticipate that Whiting Petroleum will post 2.95 EPS for the current year.
In other Whiting Petroleum news, insider Rick A. Mr. Ross sold 2,079 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $55.01, for a total value of $114,365.79. Following the completion of the transaction, the insider now directly owns 73,536 shares in the company, valued at $4,045,215.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Catlin sold 8,626 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $50.50, for a total value of $435,613.00. Following the completion of the transaction, the director now owns 57,888 shares of the company’s stock, valued at $2,923,344. The disclosure for this sale can be found here. In the last three months, insiders sold 23,181 shares of company stock worth $1,236,658. 1.70% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. North Star Investment Management Corp. bought a new position in Whiting Petroleum in the second quarter valued at approximately $132,000. Advisors Preferred LLC bought a new position in Whiting Petroleum in the second quarter valued at approximately $176,000. Integrated Investment Consultants LLC bought a new position in Whiting Petroleum in the second quarter valued at approximately $178,000. Lourd Capital LLC bought a new position in Whiting Petroleum in the third quarter valued at approximately $204,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Whiting Petroleum in the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.
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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