Whiting Petroleum (NYSE:WLL) had its target price lowered by equities research analysts at Morgan Stanley from $60.00 to $46.00 in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 55.25% from the stock’s current price.

A number of other research firms have also weighed in on WLL. Oppenheimer began coverage on shares of Whiting Petroleum in a report on Wednesday, October 3rd. They set an “outperform” rating and a $67.00 price target for the company. Citigroup began coverage on shares of Whiting Petroleum in a report on Tuesday, October 2nd. They set a “top pick” rating and a $67.00 price objective for the company. R. F. Lafferty raised shares of Whiting Petroleum from a “hold” rating to a “buy” rating and raised their price objective for the stock from $42.00 to $56.00 in a report on Wednesday, September 5th. Stifel Nicolaus decreased their price objective on shares of Whiting Petroleum from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Finally, SunTrust Banks raised their price objective on shares of Whiting Petroleum from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, August 27th. One equities 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 issued a strong buy rating to the company. Whiting Petroleum has a consensus rating of “Buy” and an average price target of $51.69.

WLL opened at $29.63 on Tuesday. The firm has a market cap of $2.87 billion, a P/E ratio of -22.62, a PEG ratio of 1.28 and a beta of 3.02. Whiting Petroleum has a twelve month low of $21.38 and a twelve month high of $56.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.70.

Whiting Petroleum (NYSE:WLL) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.34. The business had revenue of $566.70 million during 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 business’s revenue was up 74.8% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. Equities analysts forecast that Whiting Petroleum will post 3.09 earnings per share for the current year.

In other news, Director William N. Hahne sold 2,300 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $36.85, for a total value of $84,755.00. Following the transaction, the director now directly owns 20,914 shares in the company, valued at approximately $770,680.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rick A. Mr. Ross sold 2,079 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $55.01, for a total transaction of $114,365.79. Following the completion of the transaction, the insider now owns 73,536 shares in the company, valued at $4,045,215.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,481 shares of company stock worth $1,321,413. Insiders own 1.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its holdings in Whiting Petroleum by 39.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,885 shares of the oil and gas exploration company’s stock worth $521,000 after buying an additional 2,820 shares during the period. Nisa Investment Advisors LLC purchased a new stake in Whiting Petroleum in the 2nd quarter worth approximately $3,406,000. North Star Investment Management Corp. purchased a new stake in Whiting Petroleum in the 2nd quarter worth approximately $132,000. Perella Weinberg Partners Capital Management LP lifted its stake in shares of Whiting Petroleum by 943.6% in the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 213,960 shares of the oil and gas exploration company’s stock valued at $11,280,000 after purchasing an additional 193,458 shares during the period. Finally, ARP Americas LP purchased a new position in shares of Whiting Petroleum in the 2nd quarter valued at approximately $701,000. Institutional investors own 95.25% of the company’s stock.

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.

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Analyst Recommendations for Whiting Petroleum (NYSE:WLL)

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