Whiting Petroleum (NYSE:WLL) PT Lowered to $28.00

Whiting Petroleum (NYSE:WLL) had its price objective cut by Bank of America from $32.00 to $28.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the oil and gas exploration company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. KeyCorp boosted their target price on shares of Whiting Petroleum from $33.00 to $35.00 and gave the company an overweight rating in a report on Monday, April 22nd. ValuEngine cut shares of Whiting Petroleum from a sell rating to a strong sell rating in a report on Thursday, April 18th. Oppenheimer cut shares of Whiting Petroleum from an outperform rating to a market perform rating in a report on Thursday. Morgan Stanley lowered their target price on shares of Whiting Petroleum from $21.00 to $19.00 and set an equal weight rating on the stock in a report on Friday, July 12th. Finally, MKM Partners assumed coverage on shares of Whiting Petroleum in a report on Thursday, June 6th. They set a buy rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $36.35.

Shares of WLL stock opened at $11.06 on Thursday. The firm’s fifty day simple moving average is $16.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.31 and a quick ratio of 0.58. Whiting Petroleum has a 1 year low of $10.44 and a 1 year high of $55.17. The company has a market cap of $1.01 billion, a PE ratio of 5.07 and a beta of 2.97.

Whiting Petroleum (NYSE:WLL) last issued its earnings results on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.52). Whiting Petroleum had a net margin of 13.51% and a return on equity of 0.96%. The business had revenue of $426.26 million for the quarter, compared to the consensus estimate of $452.02 million. During the same period in the previous year, the firm earned $0.62 EPS. The company’s revenue was down 19.0% compared to the same quarter last year. As a group, analysts forecast that Whiting Petroleum will post 0.61 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. increased its holdings in shares of Whiting Petroleum by 89.9% in the first quarter. Whittier Trust Co. now owns 1,092 shares of the oil and gas exploration company’s stock worth $29,000 after purchasing an additional 517 shares during the period. Investors Research Corp increased its holdings in shares of Whiting Petroleum by 113.3% in the second quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 850 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Whiting Petroleum by 78.8% in the first quarter. Meeder Asset Management Inc. now owns 2,222 shares of the oil and gas exploration company’s stock worth $58,000 after purchasing an additional 979 shares during the period. Personal Wealth Partners bought a new position in Whiting Petroleum in the second quarter valued at $44,000. Finally, LS Investment Advisors LLC bought a new position in Whiting Petroleum in the first quarter valued at $70,000. 99.70% of the stock is currently owned by hedge funds and other 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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