Equities Analysts Offer Predictions for Whiting Petroleum Corp.’s Q3 2016 Earnings (WLL)
Whiting Petroleum Corp. (NYSE:WLL) – Investment analysts at Oppenheimer Holdings issued their Q3 2016 earnings estimates for Whiting Petroleum Corp. in a research note issued to investors on Monday. Oppenheimer Holdings analyst R. Du. Boff expects that the firm will post earnings of ($0.40) per share for the quarter. Oppenheimer Holdings also issued estimates for Whiting Petroleum Corp.’s Q4 2016 earnings at ($0.30) EPS and FY2016 earnings at ($2.18) EPS.
Several other brokerages have also recently weighed in on WLL. Morgan Stanley upgraded Whiting Petroleum Corp. from an “underweight” rating to an “equal weight” rating and set a $13.00 target price on the stock in a report on Friday, June 24th. SunTrust Banks Inc. set a $20.00 target price on Whiting Petroleum Corp. and gave the stock a “buy” rating in a report on Monday, October 10th. KLR Group reiterated a “buy” rating and issued a $15.00 price objective (down from $19.00) on shares of Whiting Petroleum Corp. in a report on Wednesday, June 29th. Vetr cut Whiting Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $9.80 price objective on the stock. in a report on Monday, October 3rd. Finally, Mizuho assumed coverage on Whiting Petroleum Corp. in a report on Wednesday, October 5th. They issued a “neutral” rating and a $9.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Whiting Petroleum Corp. presently has a consensus rating of “Hold” and an average price target of $13.16.
Shares of Whiting Petroleum Corp. (NYSE:WLL) traded up 6.34% during mid-day trading on Wednesday, reaching $8.89. The company’s stock had a trading volume of 11,077,568 shares. The stock’s market cap is $2.45 billion. The stock has a 50 day moving average of $8.02 and a 200-day moving average of $9.38. Whiting Petroleum Corp. has a one year low of $3.35 and a one year high of $19.73.
Whiting Petroleum Corp. (NYSE:WLL) last announced its earnings results 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. The company had revenue of $339.58 million for the quarter, compared to the consensus estimate 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 firm’s revenue was down 42.4% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Carl Domino Inc boosted its position in shares of Whiting Petroleum Corp. by 60.0% in the second quarter. Carl Domino Inc now owns 16,000 shares of the oil and gas exploration company’s stock worth $148,000 after buying an additional 6,000 shares during the period. Lorber David A bought a new position in shares of Whiting Petroleum Corp. during the first quarter worth about $199,000. Keane Capital Partners LLC bought a new position in shares of Whiting Petroleum Corp. during the first quarter worth about $838,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Whiting Petroleum Corp. by 81.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,000,000 shares of the oil and gas exploration company’s stock worth $15,960,000 after buying an additional 900,000 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Whiting Petroleum Corp. by 116.1% in the first quarter. Renaissance Technologies LLC now owns 1,893,076 shares of the oil and gas exploration company’s stock worth $15,107,000 after buying an additional 1,017,014 shares during the period. 77.33% of the stock is owned by hedge funds and other institutional investors.
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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