Whiting Petroleum (NYSE:WLL) Price Target Lowered to $19.00 at Morgan Stanley

Whiting Petroleum (NYSE:WLL) had its target price trimmed by Morgan Stanley from $21.00 to $19.00 in a report issued on Friday morning, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the oil and gas exploration company’s stock.

A number of other research analysts also recently weighed in on WLL. MKM Partners assumed coverage on Whiting Petroleum in a report on Thursday, June 6th. They issued a buy rating and a $25.00 target price on the stock. Ifs Securities raised SRC Energy from an outperform rating to a strong-buy rating in a report on Tuesday, April 23rd. Bank of America set a $54.00 target price on Fortis and gave the company a buy rating in a report on Thursday, May 2nd. ValuEngine downgraded Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Finally, KeyCorp increased their target price on WPX Energy from $16.00 to $17.00 and gave the company an overweight rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $43.64.

Shares of NYSE:WLL opened at $16.19 on Friday. The company has a market capitalization of $1.59 billion, a P/E ratio of 7.43 and a beta of 2.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.58 and a current ratio of 0.58. Whiting Petroleum has a 1 year low of $15.40 and a 1 year high of $55.17. The firm’s fifty day simple moving average is $17.63.

Whiting Petroleum (NYSE:WLL) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas exploration company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.36). Whiting Petroleum had a net margin of 13.22% and a return on equity of 2.98%. The business had revenue of $389.50 million for the quarter, compared to the consensus estimate of $421.43 million. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year. On average, sell-side analysts expect that Whiting Petroleum will post 1.25 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of WLL. Whittier Trust Co. grew its position in shares of Whiting Petroleum by 89.9% during the first quarter. Whittier Trust Co. now owns 1,092 shares of the oil and gas exploration company’s stock worth $29,000 after purchasing an additional 517 shares in the last quarter. Investors Research Corp grew its position in shares of Whiting Petroleum by 113.3% during the second quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 850 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Whiting Petroleum by 78.8% during the first quarter. Meeder Asset Management Inc. now owns 2,222 shares of the oil and gas exploration company’s stock worth $58,000 after purchasing an additional 979 shares in the last quarter. LS Investment Advisors LLC purchased a new stake in shares of Whiting Petroleum during the first quarter worth about $70,000. Finally, Advisor Group Inc. grew its position in shares of Whiting Petroleum by 13.7% during the fourth quarter. Advisor Group Inc. now owns 5,526 shares of the oil and gas exploration company’s stock worth $126,000 after purchasing an additional 665 shares in the last quarter. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

About Whiting Petroleum

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: Equal Weight Rating

Analyst Recommendations for Whiting Petroleum (NYSE:WLL)

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