Whiting Petroleum (NYSE:WLL) Price Target Cut to $16.00 by Analysts at Imperial Capital

Whiting Petroleum (NYSE:WLL) had its price objective decreased by Imperial Capital from $19.00 to $16.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. Imperial Capital currently has an in-line rating on the oil and gas exploration company’s stock.

Several other equities research analysts also recently issued reports on the company. CIBC restated a market perform rating on shares of Whiting Petroleum in a report on Thursday. Oppenheimer downgraded Whiting Petroleum from an outperform rating to a market perform rating in a report on Thursday. ValuEngine upgraded Whiting Petroleum from a strong sell rating to a sell rating in a report on Thursday. Citigroup dropped their price objective on Whiting Petroleum from $40.00 to $30.00 and set a buy rating on the stock in a report on Thursday, July 18th. Finally, Morgan Stanley dropped their price objective on Whiting Petroleum from $21.00 to $19.00 and set an equal weight rating on the stock in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $37.70.

Shares of NYSE:WLL traded up $0.22 during mid-day trading on Friday, hitting $11.06. 12,129,678 shares of the company traded hands, compared to its average volume of 5,378,275. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 5.07 and a beta of 2.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.58 and a current ratio of 0.58. 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 price is $16.65.

Whiting Petroleum (NYSE:WLL) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.52). Whiting Petroleum had a return on equity of 0.96% and a net margin of 13.51%. The business had revenue of $426.26 million for the quarter, compared to analysts’ expectations of $452.02 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Whiting Petroleum’s revenue for the quarter was down 19.0% compared to the same quarter last year. On average, equities analysts expect that Whiting Petroleum will post 0.83 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of WLL. Gabelli Funds LLC boosted its position in Whiting Petroleum by 13.7% during the 2nd quarter. Gabelli Funds LLC now owns 58,000 shares of the oil and gas exploration company’s stock worth $1,083,000 after acquiring an additional 7,000 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Whiting Petroleum by 13.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 95,393 shares of the oil and gas exploration company’s stock worth $1,782,000 after buying an additional 11,375 shares in the last quarter. Swiss National Bank raised its stake in shares of Whiting Petroleum by 2.4% in the 2nd quarter. Swiss National Bank now owns 169,750 shares of the oil and gas exploration company’s stock worth $3,171,000 after buying an additional 4,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Whiting Petroleum in the 2nd quarter worth $1,060,000. Finally, Advisory Services Network LLC bought a new stake in shares of Whiting Petroleum in the 2nd quarter worth $87,000. 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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Analyst Recommendations for Whiting Petroleum (NYSE:WLL)

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