Whiting Petroleum Corp (WLL) Expected to Announce Quarterly Sales of $474.76 Million

Equities research analysts forecast that Whiting Petroleum Corp (NYSE:WLL) will post $474.76 million in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have provided estimates for Whiting Petroleum’s earnings. The lowest sales estimate is $427.00 million and the highest is $510.80 million. Whiting Petroleum reported sales of $526.40 million during the same quarter last year, which indicates a negative year over year growth rate of 9.8%. The business is expected to report its next earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that Whiting Petroleum will report full year sales of $1.90 billion for the current financial year, with estimates ranging from $1.79 billion to $2.05 billion. For the next year, analysts anticipate that the firm will report sales of $2.11 billion, with estimates ranging from $1.74 billion to $3.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Whiting Petroleum.

Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas exploration company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.36). The company had revenue of $389.50 million for 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 company’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS.

A number of brokerages have commented on WLL. Capital One Financial upgraded Whiting Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, March 20th. Wells Fargo & Co reduced their price objective on Whiting Petroleum from $45.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Zacks Investment Research upgraded Whiting Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Ifs Securities restated an “outperform” rating on shares of Whiting Petroleum in a research note on Sunday, February 3rd. Finally, ValuEngine upgraded Whiting Petroleum from a “strong sell” rating to a “sell” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. Whiting Petroleum presently has an average rating of “Buy” and an average price target of $46.86.

In other Whiting Petroleum news, insider Peter Hagist sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $25.19, for a total transaction of $125,950.00. Following the sale, the insider now owns 43,930 shares in the company, valued at $1,106,596.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Philip Edward Doty sold 2,500 shares of the company’s 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 sale, the director now owns 16,822 shares in the company, valued at approximately $414,157.64. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. raised its stake 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 valued at $29,000 after buying an additional 517 shares in the last quarter. NuWave Investment Management LLC raised its stake 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 valued at $30,000 after buying an additional 915 shares in the last quarter. Rational Advisors LLC raised its stake 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 valued at $30,000 after buying an additional 1,188 shares in the last quarter. Ffcm LLC raised its stake 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 valued at $31,000 after buying an additional 570 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake 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 valued at $58,000 after buying an additional 979 shares in the last quarter. Hedge funds and other institutional investors own 97.49% of the company’s stock.

Shares of WLL traded up $0.47 during midday trading on Friday, reaching $24.24. 218,456 shares of the company were exchanged, compared to its average volume of 4,706,017. The stock has a market cap of $2.06 billion, a PE ratio of 11.17 and a beta of 2.94. Whiting Petroleum has a 1-year low of $18.37 and a 1-year high of $56.47. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.58 and a quick ratio of 0.58.

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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Earnings History and Estimates for Whiting Petroleum (NYSE:WLL)

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