Whiting Petroleum (WLL) Shares Gap Down to $48.93

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Whiting Petroleum Corp (NYSE:WLL)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $46.75, but opened at $48.93. Whiting Petroleum shares last traded at $50.12, with a volume of 80658 shares trading hands.

Several research firms have recently commented on WLL. KeyCorp upped their target price on Whiting Petroleum from $35.00 to $45.00 and gave the company a “buy” rating in a report on Monday, April 23rd. SunTrust Banks set a $60.00 target price on Whiting Petroleum and gave the company a “buy” rating in a report on Sunday, April 22nd. Stephens set a $68.00 target price on Whiting Petroleum and gave the company a “buy” rating in a report on Tuesday, April 24th. Credit Suisse Group upped their target price on Whiting Petroleum from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, May 1st. Finally, Morgan Stanley lowered their target price on Whiting Petroleum from $71.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $46.68.

The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $4.77 billion, a PE ratio of -38.28, a P/E/G ratio of 2.25 and a beta of 3.01.

Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings data on Monday, April 30th. The oil and gas exploration company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.70. The business had revenue of $515.10 million during the quarter, compared to the consensus estimate of $476.68 million. Whiting Petroleum had a negative return on equity of 1.08% and a negative net margin of 69.88%. The business’s revenue was up 38.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) earnings per share. research analysts expect that Whiting Petroleum Corp will post 2.93 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Whiting Petroleum by 1.4% during the first quarter. Rhumbline Advisers now owns 88,960 shares of the oil and gas exploration company’s stock worth $3,010,000 after buying an additional 1,251 shares during the period. Van ECK Associates Corp lifted its position in Whiting Petroleum by 15.0% in the first quarter. Van ECK Associates Corp now owns 18,004 shares of the oil and gas exploration company’s stock worth $609,000 after purchasing an additional 2,349 shares during the period. State of Alaska Department of Revenue lifted its position in Whiting Petroleum by 39.9% in the second quarter. State of Alaska Department of Revenue now owns 9,885 shares of the oil and gas exploration company’s stock worth $521,000 after purchasing an additional 2,820 shares during the period. Swiss National Bank lifted its position in Whiting Petroleum by 2.3% in the first quarter. Swiss National Bank now owns 158,050 shares of the oil and gas exploration company’s stock worth $5,348,000 after purchasing an additional 3,600 shares during the period. Finally, TCW Group Inc. lifted its position in Whiting Petroleum by 21.9% in the first quarter. TCW Group Inc. now owns 25,733 shares of the oil and gas exploration company’s stock worth $871,000 after purchasing an additional 4,618 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Whiting Petroleum Company Profile

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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