Whiting Petroleum (NYSE:WLL) Shares Gap Up to $18.56

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Whiting Petroleum Corp (NYSE:WLL) gapped up prior to trading on Thursday . The stock had previously closed at $19.42, but opened at $18.56. Whiting Petroleum shares last traded at $18.15, with a volume of 111,649 shares changing hands.

WLL has been the subject of several research reports. Wells Fargo & Co decreased their price target on shares of Whiting Petroleum from $45.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, March 13th. Citigroup decreased their price target on shares of Whiting Petroleum from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, March 12th. ValuEngine raised shares of Whiting Petroleum from a “strong sell” rating to a “sell” rating in a report on Friday, April 5th. KeyCorp lifted their price target on shares of Whiting Petroleum from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, Bank of America set a $37.00 price target on shares of 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, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.73.

The company has a 50 day moving average of $19.43. The firm has a market capitalization of $1.70 billion, a P/E ratio of 8.35 and a beta of 3.06. 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 (NYSE:WLL) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas exploration company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.36). The business had revenue of $389.50 million during the quarter, compared to analyst estimates of $421.43 million. Whiting Petroleum had a return on equity of 2.98% and a net margin of 13.22%. The business’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. On average, sell-side analysts anticipate that Whiting Petroleum Corp will post 1.35 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc grew its stake in shares of Whiting Petroleum by 4.1% during the third quarter. Vanguard Group Inc now owns 9,462,009 shares of the oil and gas exploration company’s stock worth $501,865,000 after purchasing an additional 373,404 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Whiting Petroleum by 40.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,194 shares of the oil and gas exploration company’s stock worth $345,000 after purchasing an additional 4,401 shares in the last quarter. Virginia Retirement Systems ET AL grew its stake in shares of Whiting Petroleum by 19.5% during the fourth quarter. Virginia Retirement Systems ET AL now owns 26,300 shares of the oil and gas exploration company’s stock worth $597,000 after purchasing an additional 4,300 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Whiting Petroleum by 3,757.6% during the fourth quarter. Prudential Financial Inc. now owns 191,258 shares of the oil and gas exploration company’s stock worth $4,340,000 after purchasing an additional 186,300 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Whiting Petroleum during the fourth quarter worth $2,439,000. 99.70% of the stock is currently owned by institutional investors.

About Whiting Petroleum (NYSE:WLL)

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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