Whiting Petroleum (NYSE:WLL) Shares Down 5.8%

Whiting Petroleum Corp (NYSE:WLL)’s share price was down 5.8% during mid-day trading on Thursday . The stock traded as low as $8.56 and last traded at $8.97, approximately 15,469,938 shares traded hands during trading. An increase of 146% from the average daily volume of 6,291,147 shares. The stock had previously closed at $9.52.

Several equities research analysts recently issued reports on WLL shares. Credit Suisse Group reiterated a “hold” rating and set a $11.00 price target on shares of Whiting Petroleum in a report on Thursday. Scotiabank downgraded Whiting Petroleum from an “outperform” rating to a “sector perform” rating in a report on Monday, August 19th. Bank of America downgraded Whiting Petroleum from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $19.00 to $11.00 in a report on Tuesday, September 10th. Imperial Capital decreased their price target on Whiting Petroleum from $19.00 to $16.00 and set an “in-line” rating for the company in a report on Friday, August 2nd. Finally, Oppenheimer downgraded Whiting Petroleum from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.79.

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $1.03 billion, a P/E ratio of 4.11 and a beta of 3.16. The firm has a 50 day moving average price of $8.56 and a two-hundred day moving average price of $18.66.

Whiting Petroleum (NYSE:WLL) last posted its quarterly 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). The firm had revenue of $426.26 million for the quarter, compared to the consensus estimate of $452.02 million. Whiting Petroleum had a return on equity of 0.96% and a net margin of 13.51%. The firm’s revenue was down 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. On average, sell-side analysts predict that Whiting Petroleum Corp will post -0.22 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of WLL. Investors Research Corp lifted its holdings in Whiting Petroleum by 113.3% during the 2nd 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 in the last quarter. Personal Wealth Partners purchased a new stake in Whiting Petroleum during the 2nd quarter worth about $44,000. Advisory Services Network LLC purchased a new stake in Whiting Petroleum during the 2nd quarter worth about $87,000. Victory Capital Management Inc. purchased a new stake in Whiting Petroleum during the 1st quarter worth about $206,000. Finally, Glen Harbor Capital Management LLC purchased a new stake in Whiting Petroleum during the 2nd quarter worth about $235,000.

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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