Whiting Petroleum (WLL) Shares Gap Up to $37.30

Whiting Petroleum Corp (NYSE:WLL)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $37.79, but opened at $37.30. Whiting Petroleum shares last traded at $36.06, with a volume of 194985 shares.

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Whiting Petroleum from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday. ValuEngine cut shares of Whiting Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday. Imperial Capital set a $45.00 price target on shares of Whiting Petroleum and gave the company an “in-line” rating in a report on Thursday. Credit Suisse Group lowered their price target on shares of Whiting Petroleum from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Co upgraded shares of Whiting Petroleum from a “market perform” rating to an “outperform” rating and set a $67.00 price target on the stock in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Whiting Petroleum has a consensus rating of “Buy” and a consensus price target of $52.41.

The firm has a market capitalization of $3.39 billion, a PE ratio of -26.12, a price-to-earnings-growth ratio of 1.58 and a beta of 3.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 0.51.

Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.34. The firm had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $522.00 million. Whiting Petroleum had a negative net margin of 31.68% and a positive return on equity of 5.34%. Whiting Petroleum’s revenue for the quarter was up 74.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) earnings per share. As a group, equities analysts expect that Whiting Petroleum Corp will post 2.9 EPS for the current fiscal year.

In related news, insider Rick A. Mr. Ross sold 2,079 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $55.01, for a total value of $114,365.79. Following the completion of the sale, the insider now directly owns 73,536 shares in the company, valued at $4,045,215.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael J. Stevens sold 12,476 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $55.04, for a total transaction of $686,679.04. Following the completion of the sale, the chief financial officer now owns 96,571 shares of the company’s stock, valued at $5,315,267.84. The disclosure for this sale can be found here. Insiders sold 23,181 shares of company stock valued at $1,236,658 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of WLL. State of Alaska Department of Revenue boosted its holdings in Whiting Petroleum by 39.9% in the second quarter. State of Alaska Department of Revenue now owns 9,885 shares of the oil and gas exploration company’s stock worth $521,000 after purchasing an additional 2,820 shares in the last quarter. Viking Fund Management LLC acquired a new position in Whiting Petroleum during the 2nd quarter worth $4,218,000. Deprince Race & Zollo Inc. acquired a new position in Whiting Petroleum during the 2nd quarter worth $211,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Whiting Petroleum during the 2nd quarter worth $211,000. Finally, Nisa Investment Advisors LLC acquired a new position in Whiting Petroleum during the 2nd quarter worth $3,406,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.

Whiting Petroleum Company Profile (NYSE:WLL)

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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