PNC Financial Services Group Inc. lowered its position in shares of Whiting Petroleum Corp (NYSE:WLL) by 28.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,053 shares of the oil and gas exploration company’s stock after selling 6,685 shares during the period. PNC Financial Services Group Inc.’s holdings in Whiting Petroleum were worth $898,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. North Star Investment Management Corp. purchased a new stake in Whiting Petroleum in the 2nd quarter valued at approximately $132,000. Advisors Preferred LLC purchased a new stake in Whiting Petroleum in the 2nd quarter valued at approximately $176,000. Integrated Investment Consultants LLC purchased a new stake in Whiting Petroleum in the 2nd quarter valued at approximately $178,000. Deprince Race & Zollo Inc. purchased a new stake in Whiting Petroleum in the 2nd quarter valued at approximately $211,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Whiting Petroleum during the 2nd quarter worth $211,000. Hedge funds and other institutional investors own 94.86% of the company’s stock.
In other Whiting Petroleum news, Director James E. Catlin sold 8,626 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $50.50, for a total value of $435,613.00. Following the sale, the director now owns 57,888 shares in the company, valued at $2,923,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael J. Stevens sold 12,476 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $55.04, for a total transaction of $686,679.04. Following the completion of the sale, the chief financial officer now owns 96,571 shares in the company, valued at approximately $5,315,267.84. The disclosure for this sale can be found here. Insiders sold 23,181 shares of company stock worth $1,236,658 in the last 90 days. 1.70% of the stock is owned by company insiders.
NYSE WLL traded up $1.43 during trading hours on Friday, reaching $43.72. The company’s stock had a trading volume of 3,552,244 shares, compared to its average volume of 4,052,451. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.71. Whiting Petroleum Corp has a 52 week low of $18.56 and a 52 week high of $56.47. The stock has a market capitalization of $4.82 billion, a P/E ratio of -33.37, a P/E/G ratio of 2.28 and a beta of 2.94.
Whiting Petroleum (NYSE:WLL) last issued its earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.62 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $526.40 million for the quarter, compared to analysts’ expectations of $505.32 million. During the same quarter last year, the company posted ($0.18) earnings per share. Whiting Petroleum’s revenue was up 69.0% on a year-over-year basis. As a group, equities research analysts expect that Whiting Petroleum Corp will post 2.91 earnings per share for the current year.
A number of brokerages have weighed in on WLL. Zacks Investment Research raised Whiting Petroleum from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Saturday. Morgan Stanley set a $67.00 price objective on Whiting Petroleum and gave the stock a “buy” rating in a report on Friday. Piper Jaffray Companies restated a “hold” rating and set a $75.00 price objective on shares of Whiting Petroleum in a report on Friday, July 20th. Oppenheimer began coverage on Whiting Petroleum in a report on Wednesday, October 3rd. They issued an “outperform” rating and a $67.00 price target for the company. Finally, Susquehanna Bancshares lowered their price target on Whiting Petroleum from $58.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $50.79.
Whiting Petroleum 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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