Whiting Petroleum Corp (NYSE:WLL) – Equities researchers at Piper Jaffray Companies cut their Q2 2019 earnings estimates for Whiting Petroleum in a report released on Sunday, May 5th, according to Zacks Investment Research. Piper Jaffray Companies analyst K. Harrison now expects that the oil and gas exploration company will earn $0.78 per share for the quarter, down from their previous forecast of $1.00. Piper Jaffray Companies also issued estimates for Whiting Petroleum’s FY2019 earnings at $2.35 EPS, Q1 2020 earnings at $0.65 EPS, Q2 2020 earnings at $0.65 EPS, Q3 2020 earnings at $1.19 EPS, Q4 2020 earnings at $0.81 EPS and FY2020 earnings at $3.29 EPS.
Several other research analysts have also issued reports on the company. Wells Fargo & Co lowered their target price on Whiting Petroleum from $45.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Citigroup lowered their price objective on Whiting Petroleum from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, March 12th. ValuEngine raised Whiting Petroleum from a “strong sell” rating to a “sell” rating in a research report on Friday, April 5th. KeyCorp lifted their price objective on Whiting Petroleum from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Bank of America set a $37.00 price objective on Whiting Petroleum and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.86.
Whiting Petroleum (NYSE:WLL) last announced 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 Thomson Reuters’ consensus estimate of $0.20 by ($0.36). The company had revenue of $389.50 million for the quarter, compared to the consensus estimate of $421.43 million. Whiting Petroleum had a return on equity of 2.98% and a net margin of 13.22%. The firm’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 earnings per share.
A number of institutional investors have recently modified their holdings of the stock. Whittier Trust Co. increased its position in Whiting Petroleum by 89.9% in the 1st quarter. Whittier Trust Co. now owns 1,092 shares of the oil and gas exploration company’s stock valued at $29,000 after buying an additional 517 shares in the last quarter. Ffcm LLC boosted its stake in Whiting Petroleum by 72.2% during the 4th quarter. Ffcm LLC now owns 1,360 shares of the oil and gas exploration company’s stock valued at $31,000 after purchasing an additional 570 shares during the last quarter. Advisor Group Inc. boosted its stake in Whiting Petroleum by 13.7% during the 4th quarter. Advisor Group Inc. now owns 5,526 shares of the oil and gas exploration company’s stock valued at $126,000 after purchasing an additional 665 shares during the last quarter. Teton Advisors Inc. boosted its stake in Whiting Petroleum by 8.2% during the 4th quarter. Teton Advisors Inc. now owns 9,200 shares of the oil and gas exploration company’s stock valued at $209,000 after purchasing an additional 700 shares during the last quarter. Finally, NuWave Investment Management LLC boosted its stake in Whiting Petroleum by 217.9% during the 4th quarter. NuWave Investment Management LLC now owns 1,335 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 915 shares during the last quarter. 99.69% of the stock is owned by institutional investors and hedge funds.
In related news, insider Peter Hagist sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $25.19, for a total value of $125,950.00. Following the completion of the sale, the insider now directly owns 43,930 shares of the company’s stock, valued at approximately $1,106,596.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.
About Whiting Petroleum
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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