Analysts expect Whiting Petroleum Corp (NYSE:WLL) to announce sales of $522.46 million for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Whiting Petroleum’s earnings. The highest sales estimate is $578.00 million and the lowest is $496.57 million. Whiting Petroleum reported sales of $324.19 million during the same quarter last year, which indicates a positive year over year growth rate of 61.2%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 30th.
On average, analysts expect that Whiting Petroleum will report full year sales of $2.07 billion for the current financial year, with estimates ranging from $1.92 billion to $2.25 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.39 billion, with estimates ranging from $2.14 billion to $2.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Whiting Petroleum.
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, meeting the Zacks’ consensus estimate of $0.62. The company had revenue of $526.40 million during the quarter, compared to analysts’ expectations of $505.32 million. Whiting Petroleum had a negative net margin of 58.02% and a positive return on equity of 1.82%. Whiting Petroleum’s quarterly revenue was up 69.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.18) earnings per share.
WLL has been the subject of several recent analyst reports. SunTrust Banks upped their price objective on shares of Whiting Petroleum to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 5th. Morgan Stanley cut their price objective on shares of Whiting Petroleum from $71.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $75.00 price objective on shares of Whiting Petroleum in a research report on Friday, July 20th. Robert W. Baird upped their price objective on shares of Whiting Petroleum from $50.00 to $61.00 and gave the stock an “outperform” rating in a research report on Sunday, July 29th. Finally, Stifel Nicolaus cut their price objective on shares of Whiting Petroleum from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $50.79.
Shares of Whiting Petroleum stock remained flat at $$41.07 during trading on Monday. 1,996,777 shares of the stock were exchanged, compared to its average volume of 2,699,908. The company has a market capitalization of $3.74 billion, a PE ratio of -31.35, a PEG ratio of 1.77 and a beta of 2.94. Whiting Petroleum has a 52 week low of $18.56 and a 52 week high of $56.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 0.51.
In other news, insider Rick A. Mr. Ross sold 2,079 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $55.01, for a total value of $114,365.79. Following the completion of the transaction, the insider now owns 73,536 shares of the company’s stock, valued at $4,045,215.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Catlin sold 8,626 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $50.50, for a total value of $435,613.00. Following the completion of the transaction, the director now directly owns 57,888 shares of the company’s stock, valued at approximately $2,923,344. The disclosure for this sale can be found here. Insiders sold 23,181 shares of company stock valued at $1,236,658 in the last ninety days. 1.70% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new position in shares of Whiting Petroleum in the second quarter valued at approximately $132,000. Advisors Preferred LLC acquired a new stake in Whiting Petroleum during the 2nd quarter valued at approximately $176,000. Integrated Investment Consultants LLC acquired a new stake in Whiting Petroleum during the 2nd quarter valued at approximately $178,000. Lourd Capital LLC acquired a new stake in Whiting Petroleum during the 3rd quarter valued at approximately $204,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in Whiting Petroleum during the 2nd quarter valued at approximately $211,000. 93.73% 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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