Morgan Stanley Cuts Whiting Petroleum (WLL) Price Target to $64.00

Share on StockTwits

Whiting Petroleum (NYSE:WLL) had its price target lowered by Morgan Stanley from $65.00 to $64.00 in a research report released on Thursday morning. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other equities research analysts also recently commented on WLL. KLR Group upped their target price on shares of Whiting Petroleum to $64.00 and gave the company a buy rating in a report on Thursday, June 14th. Zacks Investment Research upgraded shares of Whiting Petroleum from a hold rating to a strong-buy rating and set a $62.00 target price for the company in a report on Wednesday, June 13th. Stifel Nicolaus upped their target price on shares of Whiting Petroleum from $49.00 to $63.00 and gave the company a buy rating in a report on Friday, May 18th. SunTrust Banks upped their target price on shares of Whiting Petroleum to $70.00 and gave the company a buy rating in a report on Thursday, July 5th. Finally, KeyCorp upped their target price on shares of Whiting Petroleum from $45.00 to $56.00 and gave the company a buy rating in a report on Thursday, May 24th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $48.54.

Shares of NYSE:WLL opened at $45.33 on Thursday. Whiting Petroleum has a 52 week low of $15.88 and a 52 week high of $56.47. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of -34.60, a PEG ratio of 2.02 and a beta of 2.93.

Whiting Petroleum (NYSE:WLL) last announced its quarterly earnings data on Tuesday, July 31st. The oil and gas exploration company reported $0.62 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.62. Whiting Petroleum had a negative net margin of 58.02% and a positive return on equity of 1.82%. The company had revenue of $526.40 million for the quarter, compared to the consensus estimate of $505.32 million. During the same period in the prior year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 69.0% compared to the same quarter last year. research analysts forecast that Whiting Petroleum will post 2.97 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Barings LLC acquired a new stake in shares of Whiting Petroleum in the 1st quarter worth $14,149,000. FMR LLC lifted its stake in shares of Whiting Petroleum by 79.9% in the 2nd quarter. FMR LLC now owns 13,203,744 shares of the oil and gas exploration company’s stock worth $696,101,000 after acquiring an additional 5,865,141 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Whiting Petroleum by 16.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,758,914 shares of the oil and gas exploration company’s stock worth $194,882,000 after acquiring an additional 799,728 shares during the period. Millennium Management LLC lifted its stake in shares of Whiting Petroleum by 44.9% in the 1st quarter. Millennium Management LLC now owns 2,130,901 shares of the oil and gas exploration company’s stock worth $72,110,000 after acquiring an additional 659,949 shares during the period. Finally, Iridian Asset Management LLC CT acquired a new stake in shares of Whiting Petroleum in the 2nd quarter worth $84,482,000.

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.

Featured Article: Asset Allocation Models, Which is Right For You?

Analyst Recommendations for Whiting Petroleum (NYSE:WLL)

Receive News & Ratings for Whiting Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Whiting Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply