Whiting Petroleum (NYSE:WLL) had its price target dropped by analysts at Morgan Stanley from $67.00 to $60.00 in a report issued on Monday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Morgan Stanley’s target price would suggest a potential upside of 68.59% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their target price on Whiting Petroleum from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 2nd. ValuEngine cut Whiting Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Imperial Capital set a $45.00 target price on Whiting Petroleum and gave the stock an “in-line” rating in a research note on Thursday, November 1st. Credit Suisse Group lowered their target price on Whiting Petroleum from $55.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Finally, Wells Fargo & Co upgraded Whiting Petroleum from a “market perform” rating to an “outperform” rating and set a $67.00 target price on the stock in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.17.
WLL opened at $35.59 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -27.17, a PEG ratio of 1.42 and a beta of 3.02. Whiting Petroleum has a 1 year low of $21.38 and a 1 year high of $56.47.
Whiting Petroleum (NYSE:WLL) last posted its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.34. The firm had revenue of $566.70 million for the quarter, compared to the consensus estimate 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 for the quarter was up 74.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.14) EPS. On average, analysts expect that Whiting Petroleum will post 3.01 EPS for the current fiscal year.
In related news, CFO Michael J. Stevens sold 12,476 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $55.04, for a total value of $686,679.04. Following the sale, the chief financial officer now directly owns 96,571 shares in the company, valued at approximately $5,315,267.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rick A. Mr. Ross sold 2,079 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $55.01, for a total value of $114,365.79. Following the completion of the sale, 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. Insiders sold a total of 23,181 shares of company stock worth $1,236,658 over the last 90 days. 1.70% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. North Star Investment Management Corp. bought a new stake in Whiting Petroleum in the 2nd quarter valued at about $132,000. Advisors Preferred LLC purchased a new position in Whiting Petroleum during the 2nd quarter valued at about $176,000. Integrated Investment Consultants LLC purchased a new position in Whiting Petroleum during the 2nd quarter valued at about $178,000. Lourd Capital LLC purchased a new position in Whiting Petroleum during the 3rd quarter valued at about $204,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in Whiting Petroleum during the 2nd quarter valued at about $211,000. Institutional investors and hedge funds 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.
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