Whiting Petroleum (WLL) Price Target Raised to $63.00

Whiting Petroleum (NYSE:WLL) had its price target boosted by equities researchers at Stifel Nicolaus from $49.00 to $63.00 in a research note issued to investors on Friday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 21.72% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Johnson Rice initiated coverage on shares of Whiting Petroleum in a report on Wednesday, March 21st. They issued a “buy” rating and a $58.00 price objective on the stock. KeyCorp set a $35.00 price target on shares of Whiting Petroleum and gave the company a “buy” rating in a report on Sunday, January 21st. Cowen set a $35.00 price target on shares of Whiting Petroleum and gave the company a “buy” rating in a report on Thursday, January 18th. Seaport Global Securities raised shares of Whiting Petroleum from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, March 7th. Finally, Deutsche Bank initiated coverage on shares of Whiting Petroleum in a report on Wednesday, April 4th. They set a “buy” rating and a $48.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Whiting Petroleum presently has a consensus rating of “Hold” and a consensus target price of $41.55.

Whiting Petroleum opened at $51.76 on Friday, according to MarketBeat.com. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.51 billion, a P/E ratio of -39.51, a price-to-earnings-growth ratio of 2.69 and a beta of 2.90. Whiting Petroleum has a 12-month low of $48.60 and a 12-month high of $49.56.

Whiting Petroleum (NYSE:WLL) last posted its quarterly earnings data on Monday, April 30th. The oil and gas exploration company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.70. The company had revenue of $515.10 million for the quarter, compared to the consensus estimate of $476.68 million. Whiting Petroleum had a negative net margin of 69.88% and a negative return on equity of 1.08%. The firm’s revenue was up 38.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.15) earnings per share. equities research analysts predict that Whiting Petroleum will post 2.31 earnings per share for the current year.

In other news, VP David M. Seery sold 1,059 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $27.77, for a total value of $29,408.43. Following the transaction, the vice president now directly owns 37,122 shares in the company, valued at $1,030,877.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aveo Capital Partners LLC bought a new position in shares of Whiting Petroleum in the fourth quarter worth about $306,000. Nisa Investment Advisors LLC bought a new position in shares of Whiting Petroleum in the fourth quarter worth about $1,589,000. Encompass Capital Advisors LLC bought a new position in shares of Whiting Petroleum in the fourth quarter worth about $31,776,000. Gotham Asset Management LLC purchased a new stake in Whiting Petroleum in the fourth quarter worth about $2,686,000. Finally, Two Sigma Advisers LP purchased a new stake in Whiting Petroleum in the fourth quarter worth about $1,888,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Whiting Petroleum Company Profile

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.

Analyst Recommendations for Whiting Petroleum (NYSE:WLL)

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