Whiting Petroleum (NYSE:WLL) Shares Gap Up to $9.76

Shares of Whiting Petroleum Corp (NYSE:WLL) gapped up prior to trading on Friday . The stock had previously closed at $9.84, but opened at $9.76. Whiting Petroleum shares last traded at $9.33, with a volume of 212,113 shares.

WLL has been the topic of several recent analyst reports. CIBC restated a “market perform” rating on shares of Whiting Petroleum in a report on Thursday, August 1st. Imperial Capital decreased their price objective on shares of Whiting Petroleum from $19.00 to $16.00 and set an “in-line” rating on the stock in a report on Friday, August 2nd. LADENBURG THALM/SH SH lowered shares of Whiting Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $20.00 in a report on Thursday, August 1st. Oppenheimer lowered shares of Whiting Petroleum from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Finally, Raymond James decreased their price objective on shares of Whiting Petroleum from $35.00 to $25.00 and set a “strong-buy” rating on the stock in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Whiting Petroleum presently has an average rating of “Buy” and a consensus target price of $35.45.

The business has a 50 day moving average of $15.75. The firm has a market capitalization of $891.08 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 (NYSE:WLL) last announced its earnings results on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.52). Whiting Petroleum had a return on equity of 0.96% and a net margin of 13.51%. The business had revenue of $426.26 million for the quarter, compared to analysts’ expectations of $452.02 million. During the same period in the previous year, the company earned $0.62 earnings per share. Whiting Petroleum’s quarterly revenue was down 19.0% on a year-over-year basis. As a group, analysts predict that Whiting Petroleum Corp will post 0.14 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL increased its position in shares of Whiting Petroleum by 117.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 84,018 shares of the oil and gas exploration company’s stock valued at $2,196,000 after purchasing an additional 45,350 shares during the last quarter. Shikiar Asset Management Inc. purchased a new stake in shares of Whiting Petroleum in the 2nd quarter valued at approximately $560,000. Geode Capital Management LLC increased its position in shares of Whiting Petroleum by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 876,531 shares of the oil and gas exploration company’s stock valued at $19,887,000 after purchasing an additional 25,116 shares during the last quarter. Creative Planning increased its position in shares of Whiting Petroleum by 47.5% in the 1st quarter. Creative Planning now owns 362,479 shares of the oil and gas exploration company’s stock valued at $9,475,000 after purchasing an additional 116,713 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its position in shares of Whiting Petroleum by 74.2% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 112,230 shares of the oil and gas exploration company’s stock valued at $2,934,000 after purchasing an additional 47,800 shares during the last quarter. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

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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