Equities analysts expect that Whiting Petroleum Corp (NYSE:WLL) will announce sales of $531.08 million for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Whiting Petroleum’s earnings. The lowest sales estimate is $496.57 million and the highest is $592.49 million. Whiting Petroleum posted sales of $324.19 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 63.8%. The firm is expected to issue its next quarterly earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that Whiting Petroleum will report full year sales of $2.09 billion for the current fiscal year, with estimates ranging from $1.94 billion to $2.27 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.36 billion per share, with estimates ranging from $2.12 billion to $2.59 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Whiting Petroleum.
Whiting Petroleum (NYSE:WLL) last released its earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.62 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.62. The company had revenue of $526.40 million for the quarter, compared to analysts’ expectations of $505.32 million. Whiting Petroleum had a negative net margin of 58.02% and a positive return on equity of 1.82%. Whiting Petroleum’s revenue for the quarter was up 69.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) EPS.
WLL has been the subject of a number of analyst reports. Piper Jaffray Companies reissued a “hold” rating and set a $46.00 target price on shares of Whiting Petroleum in a research report on Wednesday, April 18th. SunTrust Banks increased their target price on shares of Whiting Petroleum to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 5th. KLR Group increased their target price on shares of Whiting Petroleum to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 14th. Stephens set a $68.00 target price on shares of Whiting Petroleum and gave the company a “buy” rating in a research report on Tuesday, April 24th. Finally, Morgan Stanley decreased their target price on shares of Whiting Petroleum from $71.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.58.
Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in shares of Whiting Petroleum by 1.4% in the first quarter. Rhumbline Advisers now owns 88,960 shares of the oil and gas exploration company’s stock valued at $3,010,000 after purchasing an additional 1,251 shares in the last quarter. Aperio Group LLC grew its holdings in Whiting Petroleum by 5.0% during 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 acquiring an additional 1,313 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Whiting Petroleum by 4.5% during 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 acquiring an additional 2,250 shares in the last quarter. Van ECK Associates Corp grew its holdings in Whiting Petroleum by 15.0% during the 1st quarter. Van ECK Associates Corp now owns 18,004 shares of the oil and gas exploration company’s stock worth $609,000 after acquiring an additional 2,349 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new position in Whiting Petroleum during the 2nd quarter worth approximately $132,000. Institutional investors own 99.85% of the company’s stock.
Whiting Petroleum traded up $0.47, hitting $47.96, during mid-day trading on Tuesday, MarketBeat.com reports. 2,026,166 shares of the stock traded hands, compared to its average volume of 3,066,992. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -36.61, a PEG ratio of 2.00 and a beta of 2.93. Whiting Petroleum has a 52 week low of $15.88 and a 52 week 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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