Analysts forecast that Whiting Petroleum Corporation (NYSE:WLL) will announce sales of $338.65 million for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Whiting Petroleum Corporation’s earnings, with the highest sales estimate coming in at $371.21 million and the lowest estimate coming in at $294.80 million. Whiting Petroleum Corporation posted sales of $129.23 million during the same quarter last year, which would indicate a positive year over year growth rate of 162.1%. The business is expected to announce its next quarterly earnings results on Wednesday, October 25th.

On average, analysts expect that Whiting Petroleum Corporation will report full-year sales of $338.65 million for the current financial year, with estimates ranging from $1.31 billion to $1.53 billion. For the next year, analysts anticipate that the firm will report sales of $1.64 billion per share, with estimates ranging from $1.19 billion to $2.23 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Whiting Petroleum Corporation.

Whiting Petroleum Corporation (NYSE:WLL) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas exploration company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. The firm had revenue of $311.50 million for the quarter, compared to analyst estimates of $345.64 million. Whiting Petroleum Corporation had a negative return on equity of 6.77% and a negative net margin of 88.27%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.70) earnings per share.

Several equities analysts recently issued reports on the company. BMO Capital Markets reissued a “hold” rating on shares of Whiting Petroleum Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research raised Whiting Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus decreased their target price on Whiting Petroleum Corporation from $12.00 to $11.50 and set a “buy” rating on the stock in a research note on Thursday, July 27th. Citigroup Inc. decreased their target price on Whiting Petroleum Corporation from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, Cowen and Company set a $8.00 target price on Whiting Petroleum Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.28.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WLL. Dimensional Fund Advisors LP increased its position in Whiting Petroleum Corporation by 95.8% in the first quarter. Dimensional Fund Advisors LP now owns 21,315,605 shares of the oil and gas exploration company’s stock worth $201,642,000 after buying an additional 10,428,144 shares in the last quarter. Fine Capital Partners L.P. increased its position in Whiting Petroleum Corporation by 53.7% in the second quarter. Fine Capital Partners L.P. now owns 21,336,862 shares of the oil and gas exploration company’s stock worth $117,566,000 after buying an additional 7,450,722 shares in the last quarter. Vanguard Group Inc. increased its position in Whiting Petroleum Corporation by 28.6% in the first quarter. Vanguard Group Inc. now owns 27,919,350 shares of the oil and gas exploration company’s stock worth $264,116,000 after buying an additional 6,211,479 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Whiting Petroleum Corporation during the first quarter worth about $29,442,000. Finally, Numeric Investors LLC increased its position in Whiting Petroleum Corporation by 163.0% in the second quarter. Numeric Investors LLC now owns 4,835,600 shares of the oil and gas exploration company’s stock worth $26,644,000 after buying an additional 2,997,300 shares in the last quarter. Hedge funds and other institutional investors own 83.22% of the company’s stock.

Shares of Whiting Petroleum Corporation (NYSE:WLL) traded down 1.82% during trading on Monday, hitting $4.32. The stock had a trading volume of 19,282,971 shares. The stock’s market cap is $1.57 billion. The company’s 50 day moving average price is $5.08 and its 200 day moving average price is $7.81. Whiting Petroleum Corporation has a 12 month low of $4.27 and a 12 month high of $13.39. Whiting Petroleum Corporation also was the recipient of unusually large options trading on Wednesday. Traders purchased 1,246 put options on the stock. This is an increase of approximately 159% compared to the average volume of 482 put options.

About Whiting Petroleum Corporation

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 region of the United States. It is engaged in the exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.

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Earnings History and Estimates for Whiting Petroleum Corporation (NYSE:WLL)

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