Equities research analysts expect Whiting Petroleum Corp (NYSE:WLL) to post sales of $522.46 million for the current quarter, Zacks reports. Eleven analysts have made estimates for Whiting Petroleum’s earnings, with the highest sales estimate coming in at $578.00 million and the lowest estimate coming in at $496.57 million. Whiting Petroleum posted sales of $324.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 61.2%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, October 30th.
On average, analysts expect that Whiting Petroleum will report full-year sales of $2.07 billion for the current year, with estimates ranging from $1.92 billion to $2.25 billion. For the next financial year, analysts expect that the company will post sales of $2.39 billion, with estimates ranging from $2.14 billion to $2.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Whiting Petroleum.
Whiting Petroleum (NYSE:WLL) last announced its quarterly earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. Whiting Petroleum had a negative net margin of 58.02% and a positive return on equity of 1.82%. The company had revenue of $526.40 million for the quarter, compared to analyst estimates of $505.32 million. During the same quarter last year, the business earned ($0.18) earnings per share. Whiting Petroleum’s revenue was up 69.0% compared to the same quarter last year.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Whiting Petroleum from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Saturday, October 13th. Morgan Stanley set a $67.00 price objective on shares of Whiting Petroleum and gave the company a “buy” rating in a report on Friday, October 12th. Capital One Financial cut shares of Whiting Petroleum from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a report on Monday, October 8th. Oppenheimer assumed coverage on shares of Whiting Petroleum in a report on Wednesday, October 3rd. They issued an “outperform” rating and a $67.00 price objective for the company. Finally, Citigroup assumed coverage on shares of Whiting Petroleum in a report on Tuesday, October 2nd. They issued a “top pick” rating and a $67.00 price objective for the company. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Whiting Petroleum presently has a consensus rating of “Buy” and a consensus price target of $50.79.
In related news, insider Rick A. Mr. Ross sold 2,079 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 73,536 shares of the company’s stock, valued at approximately $4,045,215.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Catlin sold 8,626 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $50.50, for a total transaction of $435,613.00. Following the completion of the transaction, the director now directly owns 57,888 shares of the company’s stock, valued at approximately $2,923,344. The disclosure for this sale can be found here. Insiders have sold 23,181 shares of company stock valued at $1,236,658 over the last 90 days. 1.70% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. United Services Automobile Association boosted its stake in Whiting Petroleum by 7.4% in the 2nd quarter. United Services Automobile Association now owns 15,697 shares of the oil and gas exploration company’s stock worth $828,000 after purchasing an additional 1,078 shares during the period. Aperio Group LLC lifted its position in Whiting Petroleum by 5.0% in the 2nd quarter. Aperio Group LLC now owns 27,653 shares of the oil and gas exploration company’s stock worth $1,458,000 after buying an additional 1,313 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Whiting Petroleum by 4.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 52,060 shares of the oil and gas exploration company’s stock worth $2,745,000 after buying an additional 2,250 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in Whiting Petroleum in the 2nd quarter worth approximately $132,000. Finally, Northern Trust Corp lifted its position in Whiting Petroleum by 0.5% in the 2nd quarter. Northern Trust Corp now owns 524,632 shares of the oil and gas exploration company’s stock worth $27,658,000 after buying an additional 2,601 shares in the last quarter. 94.86% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:WLL traded down $0.98 during trading hours on Monday, hitting $40.89. The stock had a trading volume of 116,534 shares, compared to its average volume of 4,028,607. Whiting Petroleum has a 1-year low of $18.56 and a 1-year high of $56.47. The firm has a market capitalization of $4.82 billion, a P/E ratio of -31.34, a PEG ratio of 2.28 and a beta of 2.94. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71.
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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