Whiting Petroleum (WLL) Shares Gap Down to $30.07

Whiting Petroleum Corp (NYSE:WLL) shares gapped down before the market opened on Tuesday . The stock had previously closed at $30.77, but opened at $30.07. Whiting Petroleum shares last traded at $28.73, with a volume of 8295058 shares.

Several research firms have recently weighed in on WLL. Zacks Investment Research upgraded Whiting Petroleum from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, April 4th. Morgan Stanley downgraded Whiting Petroleum from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $28.00 to $31.00 in a research note on Friday. ValuEngine upgraded Whiting Petroleum from a “strong sell” rating to a “sell” rating in a research note on Friday, April 5th. Ifs Securities restated an “outperform” rating on shares of Whiting Petroleum in a research note on Sunday, February 3rd. Finally, Robert W. Baird set a $30.00 target price on Whiting Petroleum and gave the stock a “buy” rating in a research note on Friday, February 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. Whiting Petroleum currently has an average rating of “Buy” and an average price target of $48.24.

The stock has a market cap of $2.76 billion, a PE ratio of 13.18 and a beta of 2.95. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.65.

Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings results on Tuesday, February 26th. The oil and gas exploration company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.55). The business had revenue of $473.20 million for the quarter, compared to the consensus estimate of $484.96 million. Whiting Petroleum had a net margin of 16.45% and a return on equity of 5.45%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. As a group, equities analysts expect that Whiting Petroleum Corp will post 1.47 earnings per share for the current year.

In related news, insider Peter Hagist sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $25.19, for a total transaction of $125,950.00. Following the transaction, the insider now directly owns 43,930 shares of the company’s stock, valued at approximately $1,106,596.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Philip Edward Doty sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $24.62, for a total value of $61,550.00. Following the transaction, the director now directly owns 16,822 shares in the company, valued at $414,157.64. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NuWave Investment Management LLC raised its holdings in shares of Whiting Petroleum by 217.9% during the 4th quarter. NuWave Investment Management LLC now owns 1,335 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 915 shares in the last quarter. Rational Advisors LLC raised its holdings in shares of Whiting Petroleum by 808.2% during the 4th quarter. Rational Advisors LLC now owns 1,335 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,188 shares in the last quarter. Ffcm LLC raised its holdings in shares of Whiting Petroleum by 72.2% during the 4th quarter. Ffcm LLC now owns 1,360 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 570 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Whiting Petroleum by 78.8% during the 1st quarter. Meeder Asset Management Inc. now owns 2,222 shares of the oil and gas exploration company’s stock valued at $58,000 after buying an additional 979 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Whiting Petroleum during the 4th quarter valued at about $87,000. 98.79% of the stock is currently owned by institutional investors.

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Whiting Petroleum Company Profile (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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