Whiting Petroleum Corp. (WLL) Bonds Drop 1.7% During Trading
An issue of Whiting Petroleum Corp. (NYSE:WLL) debt fell 1.7% as a percentage of its face value during trading on Tuesday. The debt issue has a 5.75% coupon and is set to mature on March 15, 2021. The debt is now trading at $87.75 and was trading at $88.00 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
A number of equities research analysts recently issued reports on WLL shares. Vetr lowered Whiting Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $13.63 target price on the stock. in a research note on Wednesday, June 1st. Deutsche Bank AG upped their target price on Whiting Petroleum Corp. from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Tuesday, June 14th. Morgan Stanley raised Whiting Petroleum Corp. from an “underweight” rating to an “equal weight” rating and set a $13.00 target price on the stock in a research note on Friday, June 24th. Wunderlich reduced their target price on Whiting Petroleum Corp. from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, June 28th. Finally, KLR Group reaffirmed a “buy” rating and issued a $15.00 target price (down previously from $19.00) on shares of Whiting Petroleum Corp. in a research note on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $13.36.
Whiting Petroleum Corp. (NYSE:WLL) opened at 7.23 on Wednesday. The company’s market cap is $1.99 billion. The firm has a 50-day moving average of $7.60 and a 200-day moving average of $9.31. Whiting Petroleum Corp. has a one year low of $3.35 and a one year high of $22.80.
Whiting Petroleum Corp. (NYSE:WLL) last released its quarterly earnings data on Wednesday, July 27th. The oil and gas exploration company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by $0.18. Whiting Petroleum Corp. had a negative net margin of 155.88% and a negative return on equity of 9.62%. The business earned $339.58 million during the quarter, compared to analyst estimates of $374.83 million. During the same period in the previous year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was down 42.4% on a year-over-year basis. On average, analysts predict that Whiting Petroleum Corp. will post ($2.04) EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Investors Capital Advisory Services acquired a new stake in Whiting Petroleum Corp. during the second quarter valued at about $113,000. Profund Advisors LLC acquired a new stake in Whiting Petroleum Corp. during the second quarter valued at about $128,000. Baird Financial Group Inc. raised its stake in Whiting Petroleum Corp. by 16.9% in the second quarter. Baird Financial Group Inc. now owns 13,855 shares of the oil and gas exploration company’s stock valued at $121,000 after buying an additional 2,000 shares during the last quarter. Sigma Planning Corp raised its stake in Whiting Petroleum Corp. by 33.0% in the second quarter. Sigma Planning Corp now owns 13,989 shares of the oil and gas exploration company’s stock valued at $130,000 after buying an additional 3,471 shares during the last quarter. Finally, Newgate Capital Management LLC acquired a new stake in Whiting Petroleum Corp. during the second quarter valued at about $137,000. 77.29% of the stock is owned by institutional investors and hedge funds.
Whiting Petroleum Corp. Company Profile
Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains and Permian Basin regions of the United States. The Company operates in the segment of exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.
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