An issue of Whiting Petroleum Corp. (NYSE:WLL) debt rose 2% against its face value during trading on Monday. The debt issue has a 6.25% coupon and is set to mature on April 1, 2023. The bonds in the issue are now trading at $96.00 and were trading at $90.75 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.

Several brokerages have recently weighed in on WLL. KeyCorp upped their price target on shares of Whiting Petroleum Corp. from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday. Canaccord Genuity set a $14.00 price target on shares of Whiting Petroleum Corp. and gave the stock a “buy” rating in a research report on Tuesday. SunTrust Banks Inc. set a $20.00 price target on shares of Whiting Petroleum Corp. and gave the stock a “buy” rating in a research report on Monday, October 10th. Vetr cut shares of Whiting Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $9.80 price target for the company. in a research report on Monday, October 3rd. Finally, Mizuho began coverage on shares of Whiting Petroleum Corp. in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $9.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Whiting Petroleum Corp. has an average rating of “Hold” and an average target price of $12.07.

Whiting Petroleum Corp. (NYSE:WLL) opened at 10.01 on Wednesday. The stock’s market cap is $2.81 billion. Whiting Petroleum Corp. has a 52 week low of $3.35 and a 52 week high of $17.64. The company has a 50-day moving average of $8.76 and a 200-day moving average of $9.08.

Whiting Petroleum Corp. (NYSE:WLL) last released its earnings results on Wednesday, October 26th. The oil and gas exploration company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.07. The firm earned $129.23 million during the quarter, compared to analysts’ expectations of $350.95 million. Whiting Petroleum Corp. had a negative net margin of 106.77% and a negative return on equity of 11.83%. Whiting Petroleum Corp.’s revenue for the quarter was down 74.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) earnings per share. On average, analysts predict that Whiting Petroleum Corp. will post ($2.19) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WLL. Third Point LLC purchased a new position in Whiting Petroleum Corp. during the second quarter worth about $75,932,000. Vanguard Group Inc. raised its position in Whiting Petroleum Corp. by 20.4% in the second quarter. Vanguard Group Inc. now owns 17,478,715 shares of the oil and gas exploration company’s stock worth $161,853,000 after buying an additional 2,961,485 shares during the period. Victory Capital Management Inc. raised its position in Whiting Petroleum Corp. by 329.4% in the second quarter. Victory Capital Management Inc. now owns 3,234,694 shares of the oil and gas exploration company’s stock worth $29,953,000 after buying an additional 2,481,447 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Whiting Petroleum Corp. during the second quarter worth approximately $20,930,000. Finally, First Trust Advisors LP increased its position in Whiting Petroleum Corp. by 79.5% in the second quarter. First Trust Advisors LP now owns 4,001,939 shares of the oil and gas exploration company’s stock worth $37,058,000 after buying an additional 1,772,115 shares in the last quarter. Institutional investors own 74.21% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was copied illegally and republished in violation of US and international trademark & copyright law. The legal version of this article can be read at https://www.thecerbatgem.com/2016/11/23/whiting-petroleum-corp-wll-debt-trading-2-higher.html.

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.

5 Day Chart for NYSE:WLL

Receive News & Stock Ratings for Whiting Petroleum Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Whiting Petroleum Corp. and related stocks with our FREE daily email newsletter.