Whiting Petroleum Corp to Post FY2019 Earnings of ($1.38) Per Share, Piper Jaffray Companies Forecasts (NYSE:WLL)

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Whiting Petroleum Corp (NYSE:WLL) – Stock analysts at Piper Jaffray Companies reduced their FY2019 earnings per share (EPS) estimates for shares of Whiting Petroleum in a report issued on Tuesday, November 12th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas exploration company will post earnings per share of ($1.38) for the year, down from their prior forecast of ($0.91). Piper Jaffray Companies has a “Neutral” rating and a $12.00 price target on the stock. Piper Jaffray Companies also issued estimates for Whiting Petroleum’s Q4 2019 earnings at ($0.56) EPS, Q1 2020 earnings at ($0.64) EPS, Q2 2020 earnings at ($0.39) EPS, Q3 2020 earnings at ($0.49) EPS, Q4 2020 earnings at ($0.60) EPS, FY2020 earnings at ($2.12) EPS and FY2021 earnings at ($2.46) EPS.

Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.30). The company had revenue of $372.89 million during the quarter, compared to the consensus estimate of $405.25 million. Whiting Petroleum had a negative return on equity of 1.90% and a net margin of 6.62%. The firm’s revenue for the quarter was down 34.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS.

A number of other research firms also recently commented on WLL. Oppenheimer downgraded Whiting Petroleum from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Citigroup downgraded Whiting Petroleum from a “buy” rating to a “neutral” rating and dropped their price target for the company from $14.00 to $10.50 in a research note on Monday, September 23rd. Zacks Investment Research downgraded Whiting Petroleum from a “hold” rating to a “strong sell” rating and set a $7.00 price target for the company. in a research note on Friday, August 16th. SunTrust Banks dropped their price target on Whiting Petroleum to $13.00 and set a “sell” rating for the company in a research note on Thursday, September 5th. Finally, Wolfe Research downgraded Whiting Petroleum from a “peer perform” rating to an “underperform” rating and set a $8.00 price target for the company. in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $15.59.

WLL stock opened at $6.33 on Friday. The company has a market cap of $616.27 million, a PE ratio of 2.90 and a beta of 3.18. The business has a 50-day simple moving average of $7.16 and a 200 day simple moving average of $13.32. Whiting Petroleum has a 52 week low of $6.00 and a 52 week high of $34.47. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.62.

Institutional investors have recently added to or reduced their stakes in the business. Investors Research Corp grew its position in Whiting Petroleum by 113.3% in the second quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 850 shares during the last quarter. Personal Wealth Partners bought a new position in Whiting Petroleum in the second quarter valued at about $44,000. Advisory Services Network LLC bought a new position in Whiting Petroleum in the second quarter valued at about $87,000. Enlightenment Research LLC bought a new position in Whiting Petroleum in the second quarter valued at about $252,000. Finally, Glen Harbor Capital Management LLC bought a new position in Whiting Petroleum in the second quarter valued at about $235,000.

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.

Read More: Percentage Gainers

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

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