Whiting Petroleum (WLL) Coverage Initiated at Stephens

Stephens started coverage on shares of Whiting Petroleum (NYSE:WLL) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $54.00 target price on the oil and gas exploration company’s stock.

Several other research firms have also recently commented on WLL. Oppenheimer started coverage on shares of Whiting Petroleum in a research report on Wednesday, October 3rd. They issued 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 report 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 report on Monday, November 12th. They noted that the move was a valuation call. Morgan Stanley dropped 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 report on Monday, November 5th. Finally, Citigroup started coverage on shares of Whiting Petroleum in a research report on Tuesday, October 2nd. They issued a top pick rating and a $67.00 target price for the company. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $50.07.

NYSE:WLL opened at $29.90 on Thursday. Whiting Petroleum has a 12 month low of $21.38 and a 12 month high of $56.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $2.72 billion, a PE ratio of -22.82, a P/E/G ratio of 1.19 and a beta of 3.04.

Whiting Petroleum (NYSE:WLL) last posted its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.34. Whiting Petroleum had a negative net margin of 31.68% and a positive return on equity of 5.30%. The firm had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $522.00 million. During the same period last year, the company posted ($0.14) EPS. The company’s quarterly revenue was up 74.8% compared to the same quarter last year. As a group, research analysts forecast that Whiting Petroleum will post 3.13 earnings per share for the current year.

In related news, insider Rick A. Mr. Ross sold 2,079 shares of the 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 transaction, the insider now directly owns 73,536 shares in the company, valued at approximately $4,045,215.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael J. Stevens sold 12,476 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $55.04, for a total transaction of $686,679.04. Following the completion of the transaction, the chief financial officer now owns 96,571 shares of the company’s stock, valued at $5,315,267.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,855 shares of company stock valued at $885,800. 1.70% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in Whiting Petroleum by 240.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,250 shares of the oil and gas exploration company’s stock valued at $172,000 after purchasing an additional 2,295 shares in the last quarter. Advisors Preferred LLC bought a new stake in Whiting Petroleum during the 2nd quarter valued at about $176,000. Integrated Investment Consultants LLC bought a new stake in Whiting Petroleum during the 2nd quarter valued at about $178,000. Lourd Capital LLC bought a new stake in Whiting Petroleum during the 3rd quarter valued at about $204,000. Finally, Caxton Associates LP bought a new stake in Whiting Petroleum during the 3rd quarter valued at about $229,000. Institutional investors and hedge funds own 94.71% 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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