Whiting Petroleum (WLL) Stock Price Down 5.3%

Shares of Whiting Petroleum Corp (NYSE:WLL) dropped 5.3% during mid-day trading on Monday . The company traded as low as $31.15 and last traded at $31.57. Approximately 4,420,489 shares changed hands during trading, an increase of 9% from the average daily volume of 4,045,993 shares. The stock had previously closed at $33.32.

WLL has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Whiting Petroleum in a research note on Wednesday, October 3rd. They set an “outperform” rating and a $67.00 target price for the company. Zacks Investment Research raised shares of Whiting Petroleum from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Saturday, October 13th. Credit Suisse Group raised shares of Whiting Petroleum from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, November 12th. They noted that the move was a valuation call. Robert W. Baird boosted their target price on shares of Whiting Petroleum from $50.00 to $61.00 and gave the company an “outperform” rating in a research note on Sunday, July 29th. Finally, Morgan Stanley lowered their target price on shares of Whiting Petroleum from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, November 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.17.

The firm has a market capitalization of $3.03 billion, a P/E ratio of -24.10, a PEG ratio of 1.35 and a beta of 3.02. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70.

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

In other news, Director William N. Hahne sold 2,300 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $36.85, for a total transaction of $84,755.00. Following the transaction, the director now owns 20,914 shares in the company, valued at $770,680.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Stevens sold 12,476 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $55.04, for a total transaction of $686,679.04. Following the transaction, the chief financial officer now owns 96,571 shares in the company, valued at approximately $5,315,267.84. The disclosure for this sale can be found here. Insiders sold 25,481 shares of company stock valued at $1,321,413 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of WLL. State of Alaska Department of Revenue increased its holdings in shares of Whiting Petroleum by 39.9% during the second quarter. State of Alaska Department of Revenue now owns 9,885 shares of the oil and gas exploration company’s stock valued at $521,000 after acquiring an additional 2,820 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Whiting Petroleum during the second quarter valued at about $3,406,000. James Investment Research Inc. acquired a new position in shares of Whiting Petroleum during the second quarter valued at about $2,567,000. North Star Investment Management Corp. acquired a new position in shares of Whiting Petroleum during the second quarter valued at about $132,000. Finally, Brave Asset Management Inc. acquired a new position in shares of Whiting Petroleum during the second quarter valued at about $237,000. Hedge funds and other institutional investors own 95.25% of the company’s stock.

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About Whiting Petroleum (NYSE:WLL)

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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