Whiting Petroleum (WLL) Given a $67.00 Price Target by Morgan Stanley Analysts

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Morgan Stanley set a $67.00 target price on Whiting Petroleum (NYSE:WLL) in a research report report published on Friday morning. The firm currently has a buy rating on the oil and gas exploration company’s stock.

Other equities research analysts also recently issued research reports about the stock. SunTrust Banks raised their price target on shares of Whiting Petroleum to $70.00 and gave the company a buy rating in a research report on Thursday, July 5th. KLR Group raised their price target on shares of Whiting Petroleum to $64.00 and gave the company a buy rating in a research report on Thursday, June 14th. Stifel Nicolaus reduced their price target 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. R. F. Lafferty raised shares of Whiting Petroleum from a hold rating to a buy rating and raised their price target for the company from $42.00 to $56.00 in a research report on Wednesday, September 5th. Finally, Capital One Financial downgraded shares of Whiting Petroleum from an overweight rating to an equal weight rating and set a $54.00 price target for the company. in a research report on Monday, October 8th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $50.79.

Shares of WLL stock traded up $1.43 during trading hours on Friday, hitting $43.72. 3,552,244 shares of the company’s stock traded hands, compared to its average volume of 4,052,451. Whiting Petroleum has a 12-month low of $18.56 and a 12-month high of $56.47. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of -33.37, a PEG ratio of 2.28 and a beta of 2.94. 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 released 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 Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $505.32 million. During the same period last year, the business earned ($0.18) earnings per share. The business’s revenue was up 69.0% on a year-over-year basis. As a group, sell-side analysts forecast that Whiting Petroleum will post 2.91 earnings per share for the current fiscal year.

In other Whiting Petroleum news, CFO Michael J. Stevens sold 12,476 shares of Whiting Petroleum stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $55.04, for a total value of $686,679.04. Following the completion of the sale, the chief financial officer now owns 96,571 shares of the company’s stock, valued at approximately $5,315,267.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rick A. Mr. Ross sold 2,079 shares of Whiting Petroleum stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $55.01, for a total transaction of $114,365.79. Following the completion of the sale, the insider now directly owns 73,536 shares of the company’s stock, valued at approximately $4,045,215.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,181 shares of company stock valued at $1,236,658. 1.70% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Lourd Capital LLC bought a new stake in shares of Whiting Petroleum during the 3rd quarter valued at $204,000. Centre Asset Management LLC bought a new stake in shares of Whiting Petroleum during the 3rd quarter valued at $324,000. United Services Automobile Association grew its position in shares of Whiting Petroleum by 7.4% during the 2nd quarter. United Services Automobile Association now owns 15,697 shares of the oil and gas exploration company’s stock valued at $828,000 after acquiring an additional 1,078 shares during the period. Northern Trust Corp grew its position in shares of Whiting Petroleum by 0.5% during the 2nd quarter. Northern Trust Corp now owns 524,632 shares of the oil and gas exploration company’s stock valued at $27,658,000 after acquiring an additional 2,601 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Whiting Petroleum by 20.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,020 shares of the oil and gas exploration company’s stock valued at $5,589,000 after acquiring an additional 17,856 shares during the period. 94.86% of the stock is owned by institutional investors and hedge funds.

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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