Whiting Petroleum Corp. (WLL) Downgraded by Vetr Inc. to “Buy”
Vetr lowered shares of Whiting Petroleum Corp. (NYSE:WLL) from a strong-buy rating to a buy rating in a report released on Monday. The firm currently has $9.80 price target on the oil and gas exploration company’s stock.
Several other research firms also recently commented on WLL. Goldman Sachs Group Inc. downgraded Whiting Petroleum Corp. from a buy rating to a neutral rating and reduced their price objective for the stock from $13.75 to $12.75 in a report on Wednesday, July 6th. Cantor Fitzgerald reiterated a hold rating on shares of Whiting Petroleum Corp. in a report on Sunday, August 14th. Barclays PLC reduced their price objective on Whiting Petroleum Corp. from $12.00 to $9.00 and set an equal weight rating for the company in a report on Friday, July 29th. KLR Group reiterated a buy rating and issued a $15.00 price objective (down from $18.00) on shares of Whiting Petroleum Corp. in a report on Monday, August 1st. Finally, Zacks Investment Research upgraded Whiting Petroleum Corp. from a hold rating to a buy rating and set a $9.50 price objective for the company in a report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $13.09.
Whiting Petroleum Corp. (NYSE:WLL) opened at 9.09 on Monday. The company’s market capitalization is $2.50 billion. Whiting Petroleum Corp. has a 52-week low of $3.35 and a 52-week high of $22.80. The company has a 50 day moving average of $7.77 and a 200 day moving average of $9.30.
Whiting Petroleum Corp. (NYSE:WLL) last released its quarterly earnings data on Wednesday, July 27th. The oil and gas exploration company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.52) by $0.18. Whiting Petroleum Corp. had a negative return on equity of 9.62% and a negative net margin of 155.88%. The business earned $339.58 million during the quarter, compared to the consensus estimate of $374.83 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. Whiting Petroleum Corp.’s quarterly revenue was down 42.4% compared to the same quarter last year. On average, equities research analysts forecast that Whiting Petroleum Corp. will post ($2.04) earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Palisade Capital Management LLC NJ acquired a new stake in shares of Whiting Petroleum Corp. during the second quarter valued at about $167,000. Investors Capital Advisory Services acquired a new stake in shares of Whiting Petroleum Corp. during the second quarter valued at about $113,000. Fox Run Management L.L.C. acquired a new stake in shares of Whiting Petroleum Corp. during the second quarter valued at about $144,000. Lorber David A acquired a new stake in shares of Whiting Petroleum Corp. during the first quarter valued at about $199,000. Finally, William Blair Investment Management LLC increased its stake in shares of Whiting Petroleum Corp. by 161.8% in the second quarter. William Blair Investment Management LLC now owns 35,743 shares of the oil and gas exploration company’s stock valued at $331,000 after buying an additional 22,088 shares during the period. 77.29% of the stock is currently owned by institutional investors.
About Whiting Petroleum Corp.
Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains and Permian Basin regions of the United States. The Company operates in the segment of exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.
To view Vetr’s full report, visit Vetr’s official website.
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