Whiting Petroleum Corp. (WLL) Lowered to “Buy” at Vetr Inc.
Whiting Petroleum Corp. (NYSE:WLL) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They currently have a $9.80 target price on the oil and gas exploration company’s stock. Vetr‘s price target indicates a potential upside of 9.99% from the company’s current price.
WLL has been the subject of several other reports. FBR & Co started coverage on shares of Whiting Petroleum Corp. in a research report on Tuesday, September 13th. They issued a “market perform” rating and a $8.00 price objective for the company. Morgan Stanley raised shares of Whiting Petroleum Corp. from an “underweight” rating to an “equal weight” rating and set a $13.00 price target for the company in a research report on Friday, June 24th. Cantor Fitzgerald reissued a “hold” rating and set a $11.00 price target on shares of Whiting Petroleum Corp. in a research report on Tuesday, July 26th. Zacks Investment Research raised shares of Whiting Petroleum Corp. from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Thursday, July 7th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $12.00 price target (down from $14.00) on shares of Whiting Petroleum Corp. in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have given a buy rating to the company. Whiting Petroleum Corp. presently has an average rating of “Hold” and a consensus price target of $13.23.
Shares of Whiting Petroleum Corp. (NYSE:WLL) traded up 1.95% during midday trading on Monday, hitting $8.91. 19,756,857 shares of the stock were exchanged. Whiting Petroleum Corp. has a 12 month low of $3.35 and a 12 month high of $22.80. The firm has a 50 day moving average of $7.72 and a 200-day moving average of $9.31. The stock’s market cap is $2.45 billion.
Whiting Petroleum Corp. (NYSE:WLL) last announced its quarterly earnings data on Wednesday, July 27th. The oil and gas exploration company reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $0.18. The company earned $339.58 million during the quarter, compared to analysts’ expectations of $374.83 million. Whiting Petroleum Corp. had a negative net margin of 155.88% and a negative return on equity of 9.62%. The business’s revenue for the quarter was down 42.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. Equities research analysts anticipate that Whiting Petroleum Corp. will post ($2.04) EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Palisade Capital Management LLC NJ bought a new position in shares of Whiting Petroleum Corp. during the second quarter worth approximately $167,000. Investors Capital Advisory Services bought a new position in shares of Whiting Petroleum Corp. during the second quarter worth approximately $113,000. Fox Run Management L.L.C. bought a new position in shares of Whiting Petroleum Corp. during the second quarter worth approximately $144,000. Lorber David A bought a new position in shares of Whiting Petroleum Corp. during the first quarter worth approximately $199,000. Finally, William Blair Investment Management LLC increased its position in shares of Whiting Petroleum Corp. by 161.8% in the second quarter. William Blair Investment Management LLC now owns 35,743 shares of the oil and gas exploration company’s stock worth $331,000 after buying an additional 22,088 shares in the last quarter. 77.29% of the stock is owned by institutional investors and hedge funds.
About Whiting Petroleum Corp.
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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