Whiting Petroleum (NYSE:WLL) had its price target dropped by Morgan Stanley from $21.00 to $19.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the oil and gas exploration company’s stock. Morgan Stanley’s price objective points to a potential upside of 9.32% from the company’s current price.
Several other equities analysts have also recently issued reports on WLL. Capital One Financial cut Cimarex Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. SunTrust Banks reissued a “buy” rating and issued a $35.00 price objective on shares of Whiting Petroleum in a report on Monday, June 24th. ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. KeyCorp upped their price target on WPX Energy from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Bank of America set a $54.00 price target on Fortis and gave the stock a “buy” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $43.64.
Shares of WLL stock opened at $17.38 on Friday. The firm has a market cap of $1.59 billion, a PE ratio of 7.97 and a beta of 2.91. The company has a 50-day moving average of $17.76. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.68. Whiting Petroleum has a 52-week low of $15.40 and a 52-week high of $55.17.
Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas exploration company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.36). The company had revenue of $389.50 million during the quarter, compared to analyst estimates of $421.43 million. Whiting Petroleum had a net margin of 13.22% and a return on equity of 2.98%. The business’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. As a group, research analysts expect that Whiting Petroleum will post 1.27 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. increased its stake in Whiting Petroleum by 89.9% during the 1st quarter. Whittier Trust Co. now owns 1,092 shares of the oil and gas exploration company’s stock worth $29,000 after buying an additional 517 shares in the last quarter. Investors Research Corp increased its stake 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 buying an additional 850 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Whiting Petroleum by 78.8% during the 1st quarter. Meeder Asset Management Inc. now owns 2,222 shares of the oil and gas exploration company’s stock worth $58,000 after buying an additional 979 shares in the last quarter. LS Investment Advisors LLC purchased a new stake in Whiting Petroleum during the 1st quarter worth approximately $70,000. Finally, Advisor Group Inc. increased its stake in Whiting Petroleum by 13.7% during the 4th quarter. Advisor Group Inc. now owns 5,526 shares of the oil and gas exploration company’s stock worth $126,000 after buying an additional 665 shares in the last quarter. 99.70% of the stock is owned by institutional investors.
About Whiting Petroleum
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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