Whiting Petroleum (NYSE:WLL) had its price objective trimmed by JPMorgan Chase & Co. from $62.00 to $54.00 in a research note issued to investors on Friday morning. The firm currently has a neutral rating on the oil and gas exploration company’s stock.
WLL has been the topic of several other research reports. Wells Fargo & Co upgraded shares of Whiting Petroleum from a market perform rating to an outperform rating and set a $67.00 price objective on the stock in a research note on Tuesday, October 23rd. Capital One Financial lowered 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. Oppenheimer initiated coverage on shares of Whiting Petroleum in a research note on Wednesday, October 3rd. They set an outperform rating and a $67.00 price objective on the stock. SunTrust Banks increased their price objective on shares of Whiting Petroleum from $70.00 to $75.00 and gave the stock a buy rating in a research note on Monday, August 27th. Finally, Morgan Stanley increased their price objective on shares of Whiting Petroleum from $64.00 to $68.00 and gave the stock a buy rating in a research note on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $52.17.
Shares of Whiting Petroleum stock opened at $35.29 on Friday. The stock has a market capitalization of $3.11 billion, a PE ratio of -26.94, a P/E/G ratio of 1.42 and a beta of 3.02. 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 has a 1 year low of $21.38 and a 1 year high of $56.47.
Whiting Petroleum (NYSE:WLL) last issued its 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 business had revenue of $566.70 million for the quarter, compared to analyst estimates of $522.00 million. Whiting Petroleum had a negative net margin of 31.68% and a positive return on equity of 5.30%. The company’s revenue for the quarter was up 74.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.14) EPS. Sell-side analysts forecast that Whiting Petroleum will post 3.01 earnings per share for the current year.
In other Whiting Petroleum news, CFO Michael J. Stevens sold 12,476 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $55.04, for a total value of $686,679.04. Following the sale, the chief financial officer now owns 96,571 shares in the company, valued at $5,315,267.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $435,613.00. Following the completion of the sale, the director now owns 57,888 shares in the company, valued at approximately $2,923,344. The disclosure for this sale can be found here. Insiders sold 23,181 shares of company stock worth $1,236,658 in the last 90 days. 1.70% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. North Star Investment Management Corp. acquired a new stake in shares of Whiting Petroleum in the second quarter valued at approximately $132,000. Advisors Preferred LLC bought a new position in shares of Whiting Petroleum in the second quarter valued at approximately $176,000. Integrated Investment Consultants LLC bought a new position in shares of Whiting Petroleum in the second quarter valued at approximately $178,000. Lourd Capital LLC bought a new position in shares of Whiting Petroleum in the third quarter valued at approximately $204,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Whiting Petroleum in the second quarter valued at approximately $211,000. Institutional investors own 93.78% 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.
Further Reading: Cash Flow
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