Whiting Petroleum Corporation (WLL) Shares Down 0.5% After Analyst Downgrade
Whiting Petroleum Corporation (NYSE:WLL)’s share price fell 0.5% during mid-day trading on Tuesday after Imperial Capital lowered their price target on the stock from $30.00 to $6.00. Imperial Capital currently has an in-line rating on the stock. Whiting Petroleum Corporation traded as low as $23.50 and last traded at $25.87. 6,693,700 shares traded hands during trading, an increase of 44% from the average session volume of 4,655,280 shares. The stock had previously closed at $25.74.
A number of other research firms also recently weighed in on WLL. Cowen and Company restated a “buy” rating and issued a $32.00 target price on shares of Whiting Petroleum Corporation in a research report on Friday, November 10th. Robert W. Baird upped their target price on Whiting Petroleum Corporation from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. ValuEngine upgraded Whiting Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Zacks Investment Research downgraded Whiting Petroleum Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, J P Morgan Chase & Co cut their target price on Whiting Petroleum Corporation from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Whiting Petroleum Corporation presently has a consensus rating of “Hold” and an average target price of $36.65.
Several institutional investors have recently bought and sold shares of WLL. Chicago Equity Partners LLC purchased a new position in shares of Whiting Petroleum Corporation during the 2nd quarter valued at $102,000. Campbell & CO Investment Adviser LLC grew its holdings in shares of Whiting Petroleum Corporation by 24.4% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 20,349 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 3,988 shares in the last quarter. Palisade Capital Management LLC NJ purchased a new position in shares of Whiting Petroleum Corporation during the 2nd quarter valued at $121,000. Cubist Systematic Strategies LLC purchased a new position in shares of Whiting Petroleum Corporation during the 3rd quarter valued at $133,000. Finally, Private Capital Management Inc. grew its holdings in shares of Whiting Petroleum Corporation by 25.0% during the 2nd quarter. Private Capital Management Inc. now owns 25,000 shares of the oil and gas exploration company’s stock valued at $138,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.
The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.62.
Whiting Petroleum Corporation (NYSE:WLL) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas exploration company reported ($0.56) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.24. The firm had revenue of $324.20 million during the quarter, compared to analysts’ expectations of $330.25 million. Whiting Petroleum Corporation had a negative net margin of 45.39% and a negative return on equity of 5.06%. Whiting Petroleum Corporation’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.88) earnings per share. equities analysts forecast that Whiting Petroleum Corporation will post -2.41 earnings per share for the current year.
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About Whiting Petroleum Corporation
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 region of the United States. It is engaged in the exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.
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