Whiting Petroleum (WLL) Stock Price Down 6%

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Whiting Petroleum Corp (NYSE:WLL) traded down 6% during mid-day trading on Thursday . The company traded as low as $47.37 and last traded at $47.61. 2,518,837 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 4,300,060 shares. The stock had previously closed at $50.63.

A number of equities research analysts have recently issued reports on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $75.00 target price on shares of Whiting Petroleum in a report on Friday, July 20th. 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 raised shares of Whiting Petroleum from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a report on Wednesday, June 13th. 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. Finally, Morgan Stanley dropped their target price on shares of Whiting Petroleum from $71.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $49.81.

The company has a market cap of $4.33 billion, a P/E ratio of -36.05, a PEG ratio of 2.05 and a beta of 3.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 0.51.

Whiting Petroleum (NYSE:WLL) last announced its earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.62 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $526.40 million for the quarter, compared to analyst estimates of $505.32 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue was up 69.0% compared to the same quarter last year. equities research analysts expect that Whiting Petroleum Corp will post 2.9 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. North Star Investment Management Corp. acquired a new position in shares of Whiting Petroleum during the 2nd quarter worth approximately $132,000. Advisors Preferred LLC acquired a new position in shares of Whiting Petroleum during the 2nd quarter worth approximately $176,000. Integrated Investment Consultants LLC acquired a new position in shares of Whiting Petroleum during the 2nd quarter worth approximately $178,000. Deprince Race & Zollo Inc. acquired a new position in shares of Whiting Petroleum during the 2nd quarter worth approximately $211,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Whiting Petroleum during the 2nd quarter worth approximately $211,000. Hedge funds and other institutional investors own 95.01% of the company’s stock.

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.

Further Reading: Return on Investment (ROI) Defined, Explained

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