Whiting Petroleum Corporation (WLL) Shares Up 5.7%

Whiting Petroleum Corporation (NYSE:WLL) shot up 5.7% during trading on Wednesday . The stock traded as high as $5.29 and last traded at $5.19. 21,780,441 shares changed hands during trading, an increase of 6% from the average session volume of 20,616,600 shares. The stock had previously closed at $4.91.

Several brokerages have commented on WLL. Goldman Sachs Group, Inc. (The) lowered Whiting Petroleum Corporation from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $11.50 to $7.25 in a research note on Tuesday, May 30th. Credit Suisse Group downgraded Whiting Petroleum Corporation from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, June 1st. BidaskClub raised Whiting Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Royal Bank Of Canada set a $12.00 price target on Whiting Petroleum Corporation and gave the company a “hold” rating in a report on Friday, June 2nd. Finally, Seaport Global Securities downgraded Whiting Petroleum Corporation from a “neutral” rating to a “sell” rating and reduced their price target for the company from $10.00 to $4.00 in a report on Wednesday, June 21st. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $10.56.

The firm’s market cap is $1.88 billion. The company has a 50-day moving average of $4.60 and a 200 day moving average of $6.72.

Whiting Petroleum Corporation (NYSE:WLL) last posted its earnings results on Wednesday, July 26th. The oil and gas exploration company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The business had revenue of $311.50 million for the quarter, compared to analyst estimates of $345.64 million. Whiting Petroleum Corporation had a negative net margin of 88.27% and a negative return on equity of 6.77%. Whiting Petroleum Corporation’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.70) EPS. Equities analysts predict that Whiting Petroleum Corporation will post ($0.70) EPS for the current fiscal year.

Several large investors have recently modified their holdings of WLL. Davidson Kempner Capital Management LP purchased a new stake in shares of Whiting Petroleum Corporation in the 2nd quarter valued at $8,265,000. Dynamic Technology Lab Private Ltd boosted its position in Whiting Petroleum Corporation by 19.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 46,738 shares of the oil and gas exploration company’s stock valued at $258,000 after buying an additional 7,742 shares during the period. Public Employees Retirement System of Ohio boosted its position in Whiting Petroleum Corporation by 75.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 159,990 shares of the oil and gas exploration company’s stock valued at $882,000 after buying an additional 68,808 shares during the period. Wealthsource Partners LLC boosted its position in Whiting Petroleum Corporation by 72.3% during the 2nd quarter. Wealthsource Partners LLC now owns 52,625 shares of the oil and gas exploration company’s stock valued at $290,000 after buying an additional 22,075 shares during the period. Finally, Proxima Capital Management LLC boosted its position in Whiting Petroleum Corporation by 22.8% during the 2nd quarter. Proxima Capital Management LLC now owns 860,000 shares of the oil and gas exploration company’s stock valued at $4,739,000 after buying an additional 159,400 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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About Whiting Petroleum Corporation

Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains region of the United States. It is engaged in the exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.

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