Whiting Petroleum (WLL) Shares Gap Up to $51.53

Shares of Whiting Petroleum Corp (NYSE:WLL) gapped up prior to trading on Tuesday . The stock had previously closed at $53.25, but opened at $51.53. Whiting Petroleum shares last traded at $52.01, with a volume of 68181 shares trading hands.

Several research firms have recently weighed in on WLL. Morgan Stanley lowered their price objective on shares of Whiting Petroleum from $71.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Susquehanna Bancshares decreased their price target on shares of Whiting Petroleum from $58.00 to $57.00 and set a “neutral” rating for the company in a research note on Wednesday, August 1st. Stifel Nicolaus decreased their price target on shares of Whiting Petroleum from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. SunTrust Banks boosted their price target on shares of Whiting Petroleum from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, August 27th. Finally, KLR Group restated a “buy” rating and set a $64.00 price target on shares of Whiting Petroleum in a research note on Monday, August 20th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $49.96.

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $4.64 billion, a PE ratio of -39.08, a price-to-earnings-growth ratio of 2.19 and a beta of 3.00.

Whiting Petroleum (NYSE:WLL) last posted 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 Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $505.32 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue was up 69.0% compared to the same quarter last year. equities analysts expect that Whiting Petroleum Corp will post 2.91 earnings per share for the current year.

In other news, Director James E. Catlin sold 8,626 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 57,888 shares in the company, valued at approximately $2,923,344. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its holdings in shares of Whiting Petroleum by 1.4% in the 1st quarter. Rhumbline Advisers now owns 88,960 shares of the oil and gas exploration company’s stock worth $3,010,000 after buying an additional 1,251 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of Whiting Petroleum by 5.0% in the 2nd quarter. Aperio Group LLC now owns 27,653 shares of the oil and gas exploration company’s stock worth $1,458,000 after buying an additional 1,313 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Whiting Petroleum by 4.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 52,060 shares of the oil and gas exploration company’s stock worth $2,745,000 after buying an additional 2,250 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Whiting Petroleum by 15.0% in the 1st quarter. Van ECK Associates Corp now owns 18,004 shares of the oil and gas exploration company’s stock worth $609,000 after buying an additional 2,349 shares during the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of Whiting Petroleum in the 2nd quarter worth about $132,000. Hedge funds and other institutional investors own 94.86% of the company’s stock.

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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