Whiting Petroleum (WLL) Coverage Initiated at Credit Suisse Group

Equities researchers at Credit Suisse Group began coverage on shares of Whiting Petroleum (NYSE:WLL) in a research report issued to clients and investors on Monday. The firm set a “neutral” rating and a $29.00 price target on the oil and gas exploration company’s stock. Credit Suisse Group’s price target points to a potential upside of 13.41% from the company’s current price.

A number of other research analysts have also issued reports on WLL. ValuEngine lowered Whiting Petroleum from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Tudor Pickering lowered Whiting Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, September 5th. Morgan Stanley lowered Whiting Petroleum from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $20.00 to $14.00 in a report on Tuesday, September 12th. Cowen restated a “buy” rating and issued a $32.00 price objective on shares of Whiting Petroleum in a report on Sunday, September 17th. Finally, Piper Jaffray Companies cut their price objective on Whiting Petroleum from $40.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, September 18th. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $35.50.

Shares of Whiting Petroleum (WLL) traded up $0.43 during mid-day trading on Monday, reaching $25.57. The company’s stock had a trading volume of 4,211,400 shares, compared to its average volume of 4,767,201. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.62. Whiting Petroleum has a one year low of $15.88 and a one year high of $53.48.

Whiting Petroleum (NYSE:WLL) last announced its quarterly earnings results on Wednesday, October 25th. The oil and gas exploration company reported ($0.56) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.24. Whiting Petroleum had a negative return on equity of 5.06% and a negative net margin of 45.39%. The company had revenue of $324.20 million during the quarter, compared to analyst estimates of $330.25 million. During the same quarter in the previous year, the firm posted ($1.88) EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. equities analysts expect that Whiting Petroleum will post -2.39 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. ProShare Advisors LLC raised its position in Whiting Petroleum by 1.4% during the second quarter. ProShare Advisors LLC now owns 28,373 shares of the oil and gas exploration company’s stock valued at $156,000 after buying an additional 388 shares during the period. First Allied Advisory Services Inc. raised its position in Whiting Petroleum by 2.0% during the second quarter. First Allied Advisory Services Inc. now owns 24,585 shares of the oil and gas exploration company’s stock valued at $138,000 after buying an additional 475 shares during the period. MML Investors Services LLC raised its position in Whiting Petroleum by 1.9% during the second quarter. MML Investors Services LLC now owns 47,263 shares of the oil and gas exploration company’s stock valued at $260,000 after buying an additional 895 shares during the period. HL Financial Services LLC raised its position in Whiting Petroleum by 2.1% during the second quarter. HL Financial Services LLC now owns 49,780 shares of the oil and gas exploration company’s stock valued at $274,000 after buying an additional 1,000 shares during the period. Finally, Frontier Wealth Management LLC raised its position in Whiting Petroleum by 11.9% during the second quarter. Frontier Wealth Management LLC now owns 28,161 shares of the oil and gas exploration company’s stock valued at $155,000 after buying an additional 3,000 shares during the period.

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About Whiting Petroleum

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.

Analyst Recommendations for Whiting Petroleum (NYSE:WLL)

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