Whiting Petroleum Corp. Downgraded by Stephens to Equal Weight (WLL)
Whiting Petroleum Corp. (NYSE:WLL) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
Whiting Petroleum Corp. (NYSE:WLL) opened at 64.30 on Monday. Whiting Petroleum Corp. has a 52 week low of $40.19 and a 52 week high of $64.89. The stock has a 50-day moving average of $54.33 and a 200-day moving average of $49.51. The company has a market cap of $7.629 billion and a price-to-earnings ratio of 19.83. Whiting Petroleum Corp. also was the target of unusually large options trading activity on Friday. Investors purchased 9,661 call options on the company. This represents an increase of 146% compared to the typical daily volume of 3,926 call options.
Whiting Petroleum Corp. (NYSE:WLL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.40. The company had revenue of $663.60 million for the quarter, compared to the consensus estimate of $580.76 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 32.1% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust raised their price target on shares of Whiting Petroleum Corp. from $69.00 to $92.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Societe Generale raised their price target on shares of Whiting Petroleum Corp. from $57.00 to $75.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Whiting Petroleum Corp. in a research note to investors on Tuesday, September 24th. They set a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Whiting Petroleum Corp. currently has a consensus rating of “Buy” and a consensus price target of $64.44.
Whiting Petroleum Corporation (NYSE:WLL) is an independent oil and gas company engaged in acquisition, development, exploitation, production and exploration activities primarily in the Rocky Mountains, Permian Basin, Mid-Continent, Michigan and Gulf Coast regions of the United States.
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