Whiting Petroleum (NYSE:WLL) Trading Down 4.3%

Shares of Whiting Petroleum Corp (NYSE:WLL) dropped 4.3% on Thursday . The stock traded as low as $8.34 and last traded at $8.22, approximately 113,707 shares were traded during trading. A decline of 99% from the average daily volume of 8,485,334 shares. The stock had previously closed at $8.59.

WLL has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on Whiting Petroleum from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Credit Suisse Group cut Whiting Petroleum from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 1st. Raymond James reduced their price objective on Whiting Petroleum from $35.00 to $25.00 and set a “strong-buy” rating for the company in a research note on Monday, August 5th. Oppenheimer cut Whiting Petroleum from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, Ifs Securities cut Whiting Petroleum from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $35.45.

The firm has a market cap of $763.27 million, a price-to-earnings ratio of 3.79 and a beta of 2.97. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $14.72 and a 200-day moving average price of $22.00.

Whiting Petroleum (NYSE:WLL) last released its earnings results on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.52). The company had revenue of $426.26 million during the quarter, compared to analyst estimates of $452.02 million. Whiting Petroleum had a net margin of 13.51% and a return on equity of 0.96%. The company’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. As a group, research analysts expect that Whiting Petroleum Corp will post 0.11 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in WLL. Whittier Trust Co. increased its holdings in shares of Whiting Petroleum by 89.9% in the first quarter. Whittier Trust Co. now owns 1,092 shares of the oil and gas exploration company’s stock valued at $29,000 after purchasing an additional 517 shares during the period. Investors Research Corp increased its holdings in shares of Whiting Petroleum by 113.3% in the second quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 850 shares during the period. Personal Wealth Partners acquired a new position in shares of Whiting Petroleum in the second quarter valued at approximately $44,000. Meeder Asset Management Inc. increased its holdings in shares of Whiting Petroleum by 78.8% in the first quarter. Meeder Asset Management Inc. now owns 2,222 shares of the oil and gas exploration company’s stock valued at $58,000 after purchasing an additional 979 shares during the period. Finally, LS Investment Advisors LLC acquired a new position in shares of Whiting Petroleum in the first quarter valued at approximately $70,000. 99.70% of the stock is currently owned by institutional investors and hedge funds.

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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