An issue of Whiting Petroleum Corporation (NYSE:WLL) bonds fell 1.6% against their face value during trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $12.00 to $11.50. The debt issue has a 5.75% coupon and will mature on March 15, 2021. The debt is now trading at $95.50 and was trading at $97.45 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
Several other brokerages have also commented on WLL. Credit Suisse Group AG restated a “buy” rating and set a $15.00 price target on shares of Whiting Petroleum Corporation in a research note on Friday, March 31st. BMO Capital Markets set a $10.00 price target on Whiting Petroleum Corporation and gave the company a “hold” rating in a research note on Monday, May 15th. FBR & Co cut their target price on Whiting Petroleum Corporation from $13.00 to $11.00 and set a “mkt perform” rating on the stock in a research note on Wednesday, May 10th. Iberia Capital reiterated a “sector perform” rating and issued a $10.00 target price on shares of Whiting Petroleum Corporation in a research note on Friday, May 12th. Finally, KLR Group lifted their target price on Whiting Petroleum Corporation from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Five analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $11.28.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Chicago Equity Partners LLC acquired a new position in shares of Whiting Petroleum Corporation during the second quarter valued at $102,000. Campbell & CO Investment Adviser LLC increased its position in shares of Whiting Petroleum Corporation by 24.4% in the second quarter. Campbell & CO Investment Adviser LLC now owns 20,349 shares of the oil and gas exploration company’s stock valued at $112,000 after buying an additional 3,988 shares during the last quarter. World Asset Management Inc increased its position in shares of Whiting Petroleum Corporation by 4.7% in the first quarter. World Asset Management Inc now owns 12,665 shares of the oil and gas exploration company’s stock valued at $120,000 after buying an additional 570 shares during the last quarter. Palisade Capital Management LLC NJ acquired a new position in shares of Whiting Petroleum Corporation during the second quarter valued at $121,000. Finally, Gotham Asset Management LLC increased its position in shares of Whiting Petroleum Corporation by 22.8% in the first quarter. Gotham Asset Management LLC now owns 13,801 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,566 shares during the last quarter. 83.22% of the stock is owned by institutional investors and hedge funds.
The firm has a 50-day moving average of $5.17 and a 200 day moving average of $7.91. The firm’s market capitalization is $1.66 billion.
Whiting Petroleum Corporation (NYSE:WLL) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.01. The firm had revenue of $311.50 million during the quarter, compared to analysts’ expectations of $345.64 million. Whiting Petroleum Corporation had a negative return on equity of 6.77% and a negative net margin of 88.27%. Whiting Petroleum Corporation’s revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.70) earnings per share. On average, analysts anticipate that Whiting Petroleum Corporation will post ($0.71) earnings per share for the current year.
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Whiting Petroleum Corporation Company Profile
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 region of the United States. It is engaged in the exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.
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