Whiting Petroleum (NYSE:WLL) Rating Lowered to Underperform at Wolfe Research

Whiting Petroleum (NYSE:WLL) was downgraded by Wolfe Research from a “peer perform” rating to an “underperform” rating in a research note issued to investors on Tuesday, The Fly reports.

Several other research analysts have also recently commented on WLL. Wells Fargo & Co cut Whiting Petroleum from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $12.00 to $11.00 in a research report on Friday, August 16th. Barclays began coverage on Whiting Petroleum in a research report on Friday, August 30th. They set an “equal weight” rating and a $8.00 price target for the company. Bank of America cut Whiting Petroleum from a “buy” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $11.00 in a research report on Tuesday, September 10th. Morgan Stanley reduced their price target on Whiting Petroleum from $9.00 to $7.75 and set an “equal weight” rating for the company in a research report on Friday, October 4th. Finally, LADENBURG THALM/SH SH cut Whiting Petroleum from a “buy” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $20.00 in a research report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Whiting Petroleum has a consensus rating of “Hold” and an average price target of $17.35.

WLL stock opened at $6.66 on Tuesday. The business has a 50-day moving average of $7.73 and a 200-day moving average of $16.34. Whiting Petroleum has a fifty-two week low of $6.00 and a fifty-two week high of $43.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $626.64 million, a P/E ratio of 3.06 and a beta of 3.17.

Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.52). Whiting Petroleum had a net margin of 13.51% and a return on equity of 0.96%. The company had revenue of $426.26 million for the quarter, compared to analyst estimates of $452.02 million. During the same period last year, the company posted $0.62 earnings per share. The business’s revenue for the quarter was down 19.0% on a year-over-year basis. Equities analysts expect that Whiting Petroleum will post -0.3 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Investors Research Corp raised its stake in Whiting Petroleum by 113.3% in the second quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 850 shares during the period. Personal Wealth Partners bought a new stake in Whiting Petroleum in the second quarter valued at approximately $44,000. Advisory Services Network LLC bought a new stake in Whiting Petroleum in the second quarter valued at approximately $87,000. Enlightenment Research LLC bought a new stake in Whiting Petroleum in the second quarter valued at approximately $252,000. Finally, Glen Harbor Capital Management LLC bought a new stake in Whiting Petroleum in the second quarter valued at approximately $235,000.

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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Analyst Recommendations for Whiting Petroleum (NYSE:WLL)

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