Whiting Petroleum Corp. (WLL) Bonds Trading 2.8% Higher
An issue of Whiting Petroleum Corp. (NYSE:WLL) debt rose 2.8% as a percentage of its face value during trading on Thursday. The debt issue has a 5.75% coupon and will mature on March 15, 2021. The debt is now trading at $93.50 and was trading at $90.50 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
Several research firms have recently commented on WLL. Zacks Investment Research upgraded Whiting Petroleum Corp. from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Thursday, July 7th. KLR Group reiterated a “buy” rating and set a $15.00 price target (down previously from $19.00) on shares of Whiting Petroleum Corp. in a report on Wednesday, June 29th. Citigroup Inc. reduced their price target on Whiting Petroleum Corp. from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price target on shares of Whiting Petroleum Corp. in a report on Friday, July 29th. Finally, Barclays PLC reduced their price target on Whiting Petroleum Corp. from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.36.
Whiting Petroleum Corp. (NYSE:WLL) opened at 8.64 on Friday. The company’s 50-day moving average price is $7.65 and its 200-day moving average price is $9.29. The firm’s market cap is $2.38 billion. 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 issued its quarterly earnings data on Wednesday, July 27th. The oil and gas exploration company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates 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 had revenue of $339.58 million for the quarter, compared to analyst estimates of $374.83 million. During the same quarter last year, the business earned $0.04 EPS. Whiting Petroleum Corp.’s revenue for the quarter was down 42.4% compared to the same quarter last year. On average, analysts anticipate that Whiting Petroleum Corp. will post ($2.04) EPS for the current year.
Large investors have recently modified their holdings of the stock. Investors Capital Advisory Services acquired a new stake in shares of Whiting Petroleum Corp. during the second quarter worth $113,000. Profund Advisors LLC acquired a new stake in shares of Whiting Petroleum Corp. during the second quarter worth $128,000. Baird Financial Group Inc. raised its stake in shares of 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 worth $121,000 after buying an additional 2,000 shares during the period. Sigma Planning Corp raised its stake in shares of 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 worth $130,000 after buying an additional 3,471 shares during the period. Finally, Newgate Capital Management LLC acquired a new stake in shares of Whiting Petroleum Corp. during the second quarter worth $137,000. Hedge funds and other institutional investors own 77.29% of the company’s stock.
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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