CIBC Reaffirms Market Perform Rating for Whiting Petroleum (NYSE:WLL)

CIBC reissued their market perform rating on shares of Whiting Petroleum (NYSE:WLL) in a research report report published on Thursday morning, FirstToMarketsRatingsTable reports.

A number of other research analysts have also weighed in on WLL. Morgan Stanley reduced their target price on Whiting Petroleum from $21.00 to $19.00 and set an equal weight rating for the company in a report on Friday, July 12th. Oppenheimer lowered Whiting Petroleum from an outperform rating to a market perform rating in a report on Thursday. Bank of America reduced their target price on Whiting Petroleum from $32.00 to $28.00 and set a buy rating for the company in a report on Thursday. Imperial Capital reaffirmed an in-line rating and set a $29.00 target price (down previously from $33.00) on shares of Whiting Petroleum in a report on Friday, May 3rd. Finally, Zacks Investment Research lowered Whiting Petroleum from a buy rating to a hold rating and set a $27.00 target price for the company. in a report on Saturday, May 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $37.70.

WLL stock traded up $0.22 during mid-day trading on Thursday, reaching $11.06. 12,129,678 shares of the company traded hands, compared to its average volume of 6,853,006. The company has a quick ratio of 0.58, a current ratio of 0.31 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $989.47 million, a P/E ratio of 25.21 and a beta of 2.97. Whiting Petroleum has a 52-week low of $10.44 and a 52-week high of $55.17. The company has a fifty day moving average price of $16.65.

Whiting Petroleum (NYSE:WLL) last posted its earnings results on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.52). The company had revenue of $426.26 million for the quarter, compared to analysts’ expectations of $452.02 million. Whiting Petroleum had a net margin of 13.51% and a return on equity of 0.96%. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. Analysts expect that Whiting Petroleum will post 0.61 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 lifted its position in Whiting Petroleum by 13.7% in the second quarter. Gabelli Funds LLC now owns 58,000 shares of the oil and gas exploration company’s stock valued at $1,083,000 after purchasing an additional 7,000 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Whiting Petroleum by 13.5% during the second quarter. Gamco Investors INC. ET AL now owns 95,393 shares of the oil and gas exploration company’s stock valued at $1,782,000 after acquiring an additional 11,375 shares in the last quarter. Swiss National Bank raised its holdings in shares of Whiting Petroleum by 2.4% during the second quarter. Swiss National Bank now owns 169,750 shares of the oil and gas exploration company’s stock valued at $3,171,000 after acquiring an additional 4,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Whiting Petroleum during the second quarter valued at approximately $1,060,000. Finally, Advisory Services Network LLC bought a new position in shares of Whiting Petroleum during the second quarter valued at approximately $87,000. 99.70% of the stock is owned by institutional investors.

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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