Whiting Petroleum (NYSE:WLL) Issues Quarterly Earnings Results, Misses Estimates By $0.52 EPS

Whiting Petroleum (NYSE:WLL) announced its quarterly earnings data on Wednesday. The oil and gas exploration company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.52), Briefing.com reports. Whiting Petroleum had a return on equity of 0.96% and a net margin of 13.51%. The firm had revenue of $426.26 million for the quarter, compared to the consensus estimate of $452.02 million. During the same quarter last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year.

Shares of NYSE WLL traded up $0.22 during midday trading on Friday, reaching $11.06. 12,129,678 shares of the company traded hands, compared to its average volume of 5,378,275. Whiting Petroleum has a 52 week low of $10.44 and a 52 week high of $55.17. The stock’s 50-day moving average is $16.65. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.61 billion, a P/E ratio of 5.07 and a beta of 2.97.

WLL has been the topic of a number of recent research reports. Imperial Capital cut their target price on Whiting Petroleum from $19.00 to $16.00 and set an “in-line” rating on the stock in a research note on Friday. Oppenheimer cut Whiting Petroleum from an “outperform” rating to a “market perform” rating in a research note on Thursday. ValuEngine upgraded Whiting Petroleum from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut Whiting Petroleum from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research note on Saturday, May 11th. Finally, Credit Suisse Group cut Whiting Petroleum from an “outperform” rating to a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $37.70.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. raised its stake in shares of Whiting Petroleum by 89.9% during the first quarter. Whittier Trust Co. now owns 1,092 shares of the oil and gas exploration company’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Whiting Petroleum by 13.7% during the fourth quarter. Advisor Group Inc. now owns 5,526 shares of the oil and gas exploration company’s stock valued at $126,000 after purchasing an additional 665 shares in the last quarter. Investors Research Corp raised its stake in shares of Whiting Petroleum by 113.3% during the second quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 850 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Whiting Petroleum by 78.8% during the first quarter. Meeder Asset Management Inc. now owns 2,222 shares of the oil and gas exploration company’s stock valued at $58,000 after purchasing an additional 979 shares in the last quarter. Finally, United Services Automobile Association raised its stake in shares of Whiting Petroleum by 6.6% during the fourth quarter. United Services Automobile Association now owns 16,486 shares of the oil and gas exploration company’s stock valued at $374,000 after purchasing an additional 1,022 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.

Whiting Petroleum Company Profile

Whiting Petroleum Corporation engages in the acquisition, exploration, development, and production of crude oil, natural gas liquids, and natural gas primarily in the Rocky Mountains region of the United States. The company sells its oil and gas production to end users, marketers, and other purchasers.

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Earnings History for Whiting Petroleum (NYSE:WLL)

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