Zacks: Analysts Anticipate Whiting Petroleum Corp (WLL) to Announce $0.59 EPS

Wall Street analysts predict that Whiting Petroleum Corp (NYSE:WLL) will report $0.59 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Whiting Petroleum’s earnings, with estimates ranging from $0.37 to $0.76. Whiting Petroleum reported earnings per share of ($0.56) in the same quarter last year, which would indicate a positive year-over-year growth rate of 205.4%. The company is expected to report its next quarterly earnings results after the market closes on Tuesday, October 30th.

According to Zacks, analysts expect that Whiting Petroleum will report full year earnings of $2.91 per share for the current fiscal year, with EPS estimates ranging from $2.32 to $3.20. For the next financial year, analysts anticipate that the firm will post earnings of $4.42 per share, with EPS estimates ranging from $2.86 to $5.99. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Whiting Petroleum.

Whiting Petroleum (NYSE:WLL) last released its quarterly earnings data on Tuesday, July 31st. The oil and gas exploration company reported $0.62 EPS for the quarter, meeting the Zacks’ 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 business had revenue of $526.40 million during the quarter, compared to analysts’ expectations of $505.32 million. During the same quarter in the prior year, the company earned ($0.18) EPS. The firm’s quarterly revenue was up 69.0% on a year-over-year basis.

WLL has been the subject of a number of research reports. SunTrust Banks increased their target price on Whiting Petroleum to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 5th. Morgan Stanley lowered their target price on Whiting Petroleum from $71.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Piper Jaffray Companies reiterated a “hold” rating and set a $75.00 target price on shares of Whiting Petroleum in a report on Friday, July 20th. Robert W. Baird increased their target price on Whiting Petroleum from $50.00 to $61.00 and gave the stock an “outperform” rating in a report on Sunday, July 29th. Finally, Stifel Nicolaus lowered their target price on Whiting Petroleum from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.79.

In related news, CFO Michael J. Stevens sold 12,476 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $55.04, for a total value of $686,679.04. Following the completion of the sale, the chief financial officer now directly owns 96,571 shares in the company, valued at approximately $5,315,267.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rick A. Mr. Ross sold 2,079 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $55.01, for a total transaction of $114,365.79. Following the completion of the sale, the insider now owns 73,536 shares of the company’s stock, valued at $4,045,215.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,181 shares of company stock valued at $1,236,658. Company insiders own 1.70% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. United Services Automobile Association lifted 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 valued at $828,000 after purchasing an additional 1,078 shares during the last quarter. Aperio Group LLC lifted its stake 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 valued at $1,458,000 after purchasing an additional 1,313 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake 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 valued at $2,745,000 after purchasing an additional 2,250 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in Whiting Petroleum in the 2nd quarter valued at about $132,000. Finally, Northern Trust Corp lifted its stake 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 valued at $27,658,000 after purchasing an additional 2,601 shares during the last quarter. Institutional investors and hedge funds own 94.86% of the company’s stock.

WLL stock traded down $0.89 during trading hours on Friday, reaching $40.98. 120,144 shares of the stock were exchanged, compared to its average volume of 4,028,607. The stock has a market cap of $4.82 billion, a PE ratio of -31.34, a price-to-earnings-growth 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 has a 12 month low of $18.56 and a 12 month high of $56.47.

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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Earnings History and Estimates for Whiting Petroleum (NYSE:WLL)

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