Whiting Petroleum Corp (WLL) Forecasted to Post Q3 2019 Earnings of $0.53 Per Share

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Whiting Petroleum Corp (NYSE:WLL) – Equities research analysts at Seaport Global Securities upped their Q3 2019 earnings per share estimates for shares of Whiting Petroleum in a research report issued on Sunday, May 5th. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas exploration company will post earnings per share of $0.53 for the quarter, up from their prior estimate of $0.49. Seaport Global Securities also issued estimates for Whiting Petroleum’s Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $1.27 EPS and Q3 2020 earnings at $0.49 EPS.

Whiting Petroleum (NYSE:WLL) last released its earnings results on Wednesday, May 1st. The oil and gas exploration company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS.

A number of other research analysts have also issued reports on WLL. Imperial Capital reissued an “in-line” rating and issued a $29.00 target price (down previously from $33.00) on shares of Whiting Petroleum in a report on Friday, May 3rd. Zacks Investment Research raised Whiting Petroleum from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Thursday, April 4th. Morgan Stanley set a $28.00 target price on Whiting Petroleum and gave the company a “hold” rating in a report on Wednesday. ValuEngine lowered Whiting Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Finally, Bank of America set a $37.00 target price on Whiting Petroleum and gave the company a “buy” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Whiting Petroleum currently has an average rating of “Buy” and an average target price of $47.05.

NYSE:WLL opened at $23.79 on Wednesday. The company has a market capitalization of $2.12 billion, a PE ratio of 10.91 and a beta of 2.94. 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 12-month low of $18.37 and a 12-month high of $56.47.

In related news, insider Peter Hagist sold 5,000 shares of Whiting Petroleum stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $25.19, for a total value of $125,950.00. Following the sale, the insider now directly owns 43,930 shares in the company, valued at $1,106,596.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Philip Edward Doty sold 2,500 shares of Whiting Petroleum stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.62, for a total value of $61,550.00. Following the completion of the sale, the director now owns 16,822 shares in the company, valued at $414,157.64. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of WLL. Whittier Trust Co. boosted its position in Whiting Petroleum by 89.9% during the first quarter. Whittier Trust Co. now owns 1,092 shares of the oil and gas exploration company’s stock worth $29,000 after purchasing an additional 517 shares in the last quarter. NuWave Investment Management LLC boosted its position in Whiting Petroleum by 217.9% during the fourth quarter. NuWave Investment Management LLC now owns 1,335 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 915 shares in the last quarter. Rational Advisors LLC boosted its position in Whiting Petroleum by 808.2% during the fourth quarter. Rational Advisors LLC now owns 1,335 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,188 shares in the last quarter. Ffcm LLC boosted its position in Whiting Petroleum by 72.2% during the fourth quarter. Ffcm LLC now owns 1,360 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 570 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Whiting Petroleum by 78.8% during the first quarter. Meeder Asset Management Inc. now owns 2,222 shares of the oil and gas exploration company’s stock worth $58,000 after purchasing an additional 979 shares in the last quarter. Institutional investors own 98.44% of the company’s stock.

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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