Whiting Petroleum Corp. (WLL) to Post FY2016 Earnings of ($1.78) Per Share, SunTrust Banks Forecasts
Whiting Petroleum Corp. (NYSE:WLL) – Analysts at SunTrust Banks upped their FY2016 EPS estimates for Whiting Petroleum Corp. in a report issued on Monday. SunTrust Banks analyst N. Dingmann now forecasts that the firm will post earnings per share of ($1.78) for the year, up from their prior estimate of ($1.87). SunTrust Banks currently has a “Buy” rating and a $20.00 target price on the stock. SunTrust Banks also issued estimates for Whiting Petroleum Corp.’s FY2017 earnings at ($0.46) EPS.
Whiting Petroleum Corp. (NYSE:WLL) last announced its quarterly earnings results on Wednesday, July 27th. The oil and gas exploration company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by $0.18. Whiting Petroleum Corp. had a negative net margin of 155.88% and a negative return on equity of 9.62%. The firm had revenue of $339.58 million for the quarter, compared to analyst estimates of $374.83 million. During the same period last year, the firm posted $0.04 EPS. The business’s revenue was down 42.4% compared to the same quarter last year.
A number of other brokerages have also recently issued reports on WLL. Deutsche Bank AG upped their target price on Whiting Petroleum Corp. from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Tuesday, June 14th. Morgan Stanley upgraded Whiting Petroleum Corp. from an “underweight” rating to an “equal weight” rating and set a $13.00 price target for the company in a report on Friday, June 24th. KLR Group reiterated a “buy” rating and set a $15.00 price target (down from $19.00) on shares of Whiting Petroleum Corp. in a report on Wednesday, June 29th. Vetr lowered Whiting Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $9.80 price target for the company. in a report on Monday, October 3rd. Finally, Mizuho initiated coverage on Whiting Petroleum Corp. in a report on Wednesday, October 5th. They set a “neutral” rating and a $9.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.16.
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Shares of Whiting Petroleum Corp. (NYSE:WLL) traded down 1.041% during trading on Wednesday, hitting $9.035. 8,314,817 shares of the stock traded hands. Whiting Petroleum Corp. has a 52 week low of $3.35 and a 52 week high of $20.66. The company’s market cap is $2.49 billion. The firm’s 50-day moving average price is $7.87 and its 200-day moving average price is $9.35.
Institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. acquired a new stake in Whiting Petroleum Corp. during the third quarter worth approximately $250,000. Foundry Partners LLC acquired a new stake in Whiting Petroleum Corp. during the third quarter worth approximately $193,000. North Star Asset Management Inc. raised its stake in Whiting Petroleum Corp. by 26.1% in the third quarter. North Star Asset Management Inc. now owns 219,919 shares of the oil and gas exploration company’s stock worth $1,922,000 after buying an additional 45,450 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Whiting Petroleum Corp. by 83.3% in the third quarter. BNP Paribas Arbitrage SA now owns 34,769 shares of the oil and gas exploration company’s stock worth $304,000 after buying an additional 15,804 shares in the last quarter. Finally, Investment Centers of America Inc. raised its stake in Whiting Petroleum Corp. by 2.6% in the second quarter. Investment Centers of America Inc. now owns 28,472 shares of the oil and gas exploration company’s stock worth $262,000 after buying an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.
About Whiting Petroleum Corp.
Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains and Permian Basin regions of the United States. The Company operates in the segment of exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.
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