Whiting Petroleum Corp to Post Q2 2019 Earnings of $0.69 Per Share, Seaport Global Securities Forecasts (WLL)

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Whiting Petroleum Corp (NYSE:WLL) – Seaport Global Securities boosted their Q2 2019 earnings per share estimates for Whiting Petroleum in a note issued to investors on Thursday, May 23rd. Seaport Global Securities analyst M. Kelly now expects that the oil and gas exploration company will earn $0.69 per share for the quarter, up from their previous estimate of $0.36. Seaport Global Securities also issued estimates for Whiting Petroleum’s Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $1.86 EPS, Q1 2020 earnings at $0.74 EPS, Q2 2020 earnings at $0.70 EPS, Q3 2020 earnings at $0.72 EPS, Q4 2020 earnings at $0.69 EPS and FY2020 earnings at $2.85 EPS.

Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas exploration company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.36). The business had revenue of $389.50 million for the quarter, compared to analyst estimates of $421.43 million. Whiting Petroleum had a return on equity of 2.98% and a net margin of 13.22%. The firm’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS.

Several other analysts have also recently issued reports on WLL. Zacks Investment Research cut shares of Whiting Petroleum from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Saturday, May 11th. Imperial Capital reaffirmed an “in-line” rating and issued a $29.00 target price (down previously from $33.00) on shares of Whiting Petroleum in a report on Friday, May 3rd. Morgan Stanley set a $28.00 target price on shares of Whiting Petroleum and gave the company a “hold” rating in a report on Wednesday, May 8th. ValuEngine cut shares of Whiting Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Finally, Ifs Securities reaffirmed an “outperform” rating on shares of Whiting Petroleum in a report on Sunday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.86.

Shares of WLL opened at $19.24 on Monday. The stock has a market cap of $1.76 billion, a PE ratio of 8.83 and a beta of 2.94. Whiting Petroleum has a 1 year low of $18.37 and a 1 year high of $56.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.58 and a current ratio of 0.58.

A number of institutional investors have recently made changes to their positions in WLL. Norges Bank purchased a new position in Whiting Petroleum in the fourth quarter valued at approximately $23,869,000. Deutsche Bank AG increased its stake in Whiting Petroleum by 71.3% in the fourth quarter. Deutsche Bank AG now owns 2,524,537 shares of the oil and gas exploration company’s stock valued at $57,280,000 after purchasing an additional 1,051,214 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Whiting Petroleum by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,788,820 shares of the oil and gas exploration company’s stock valued at $151,320,000 after purchasing an additional 1,036,207 shares during the last quarter. Natixis purchased a new position in Whiting Petroleum in the first quarter valued at approximately $24,803,000. Finally, Principal Financial Group Inc. increased its stake in Whiting Petroleum by 190.1% in the first quarter. Principal Financial Group Inc. now owns 1,134,062 shares of the oil and gas exploration company’s stock valued at $29,644,000 after purchasing an additional 743,087 shares during the last quarter. Institutional investors own 99.69% of the company’s stock.

In other Whiting Petroleum news, insider Peter Hagist sold 5,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $25.19, for a total value of $125,950.00. Following the transaction, the insider now directly owns 43,930 shares in the company, valued at $1,106,596.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip Edward Doty sold 2,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.62, for a total transaction of $61,550.00. Following the completion of the transaction, the director now owns 16,822 shares in the company, valued at $414,157.64. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

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.

Further Reading: Buy-Side Analysts

Earnings History and Estimates for Whiting Petroleum (NYSE:WLL)

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