Whiting Petroleum (NYSE:WLL) Rating Lowered to Market Perform at Wells Fargo & Co

Wells Fargo & Co cut shares of Whiting Petroleum (NYSE:WLL) from an outperform rating to a market perform rating in a research report sent to investors on Friday morning, 24/7 WallStreet reports. The firm currently has $11.00 price objective on the oil and gas exploration company’s stock, down from their previous price objective of $12.00.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of Whiting Petroleum from $21.00 to $19.00 and set an equal weight rating for the company in a research note on Friday, July 12th. Credit Suisse Group downgraded shares of Whiting Petroleum from an outperform rating to a neutral rating in a research note on Thursday, August 1st. SunTrust Banks reiterated a buy rating and set a $35.00 target price on shares of Whiting Petroleum in a research note on Monday, June 24th. Raymond James decreased their target price on shares of Whiting Petroleum from $35.00 to $25.00 and set a strong-buy rating for the company in a research note on Monday, August 5th. Finally, Ifs Securities downgraded shares of Whiting Petroleum from an outperform rating to a market perform rating in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $32.10.

Shares of WLL opened at $8.53 on Friday. Whiting Petroleum has a fifty-two week low of $8.00 and a fifty-two week high of $55.17. The company has a market capitalization of $754.13 million, a price-to-earnings ratio of 3.91 and a beta of 2.97. The firm has a 50-day simple moving average of $13.92 and a 200-day simple moving average of $21.73. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.31 and a current ratio of 0.31.

Whiting Petroleum (NYSE:WLL) last announced its earnings results on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) earnings per share 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 analyst estimates of $452.02 million. During the same quarter last year, the company posted $0.62 EPS. Whiting Petroleum’s quarterly revenue was down 19.0% on a year-over-year basis. Equities research analysts forecast that Whiting Petroleum will post 0.07 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Whittier Trust Co. lifted its position in 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 valued at $29,000 after purchasing an additional 517 shares during the period. Investors Research Corp lifted its position in 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 valued at $30,000 after purchasing an additional 850 shares during the period. Meeder Asset Management Inc. lifted its position in 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 valued at $58,000 after purchasing an additional 979 shares during the period. Arizona State Retirement System increased its holdings in Whiting Petroleum by 0.9% in the second quarter. Arizona State Retirement System now owns 141,595 shares of the oil and gas exploration company’s stock valued at $2,645,000 after buying an additional 1,223 shares in the last quarter. Finally, United Services Automobile Association increased its holdings in Whiting Petroleum by 7.7% in the second quarter. United Services Automobile Association now owns 18,666 shares of the oil and gas exploration company’s stock valued at $349,000 after buying an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors own 99.75% 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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