Whiting Petroleum Corp (NYSE:WLL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Whiting Petroleum Corp (NYSE:WLL) have earned an average recommendation of “Buy” from the twenty-three brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.65.

WLL has been the subject of several recent analyst reports. KeyCorp raised their price objective on shares of Whiting Petroleum from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. MKM Partners initiated coverage on shares of Whiting Petroleum in a research report on Thursday, June 6th. They set a “buy” rating and a $25.00 price objective for the company. Credit Suisse Group cut shares of Whiting Petroleum from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 1st. Oppenheimer cut shares of Whiting Petroleum from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Finally, CIBC restated a “market perform” rating on shares of Whiting Petroleum in a research report on Thursday, August 1st.

Shares of NYSE WLL traded down $0.41 during mid-day trading on Friday, reaching $9.35. The company’s stock had a trading volume of 7,272,818 shares, compared to its average volume of 8,134,911. The business has a 50-day simple moving average of $15.75. The firm has a market cap of $863.68 million, a PE ratio of 4.29 and a beta of 2.97. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.55. Whiting Petroleum has a 1-year low of $8.91 and a 1-year high of $55.17.

Whiting Petroleum (NYSE:WLL) last issued its earnings results on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.52). The business had revenue of $426.26 million during the quarter, compared to analyst estimates of $452.02 million. Whiting Petroleum had a net margin of 13.51% and a return on equity of 0.96%. Whiting Petroleum’s quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. As a group, equities analysts predict that Whiting Petroleum will post 0.14 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Whittier Trust Co. boosted its stake in Whiting Petroleum by 89.9% during the first quarter. Whittier Trust Co. now owns 1,092 shares of the oil and gas exploration company’s stock worth $29,000 after buying an additional 517 shares during the period. Investors Research Corp boosted its stake in Whiting Petroleum by 113.3% during the second quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 850 shares during the period. Personal Wealth Partners purchased a new position in Whiting Petroleum during the second quarter worth about $44,000. Meeder Asset Management Inc. boosted its stake in Whiting Petroleum by 78.8% during the first quarter. Meeder Asset Management Inc. now owns 2,222 shares of the oil and gas exploration company’s stock worth $58,000 after buying an additional 979 shares during the period. Finally, LS Investment Advisors LLC purchased a new position in Whiting Petroleum during the first quarter worth about $70,000. 99.70% of the stock is owned by institutional investors.

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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