Earnings Roundup: Whiting Petroleum Corp. (NYSE:WLL)

Andrew Cummings
February 22, 2017

The Average Volume for the stock is measured as 16.64 Million. The consensus rating is 2.5, suggesting the market has given up on the stock. Whiting Petroleum Corporation (NYSE:WLL) has a rating of 2.26 based on 20 research broker recommendations. But the firm's analysts think the company's capital efficiency is improving and likes the name at around $11 per share given its positive risk/reward characteristics. The Company Touched its 52-Week High on Jun 8, 2016 and 52-Week Low on Feb 25, 2016. The firm's 50-day moving average is $11.72 and its 200 day moving average is $9.77.

Whiting Petroleum Corp. (NYSE:WLL) reported its previous quarter on 10/26/2016 where it reported the Actual Earnings of $-0.47.

As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $-0.22. Ten analysts surveyed by Zacks expected $353 million. Most recently on 12/1/16 the stock of Whiting Petroleum Corp (NYSE:WLL) upgraded by Stifel from Hold to Buy. The stock's average true range of stands at 0.42, while the relative strength index is 52. The oil and gas exploration company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.04.

Several hedge funds have recently bought and sold shares of WLL.

Nonetheless, and in the immediate aftermath of reporting, investor reaction in Whiting Petroleum Corporation (WLL) stock has proven to be much more bearish. Sprott Inc. now owns 1,215,000 shares of the oil and gas exploration company's stock worth $11,251,000 after buying an additional 1,181,058 shares during the period. Management are all too mindful of the effect of EPS surprises on shares price and as a result an uncertain increased prominence agreed to interim EPS performance. Canaccord Genuity now has a $14.00 price objective on the oil and gas exploration company's stock. Schroder Investment Management Group bought a new stake in Whiting Petroleum Corporation during the third quarter valued at $8,860,000. Numeric Investors LLC acquired a new position in Whiting Petroleum Corporation during the second quarter worth approximately $6,785,000. The average numbers of shares are traded in a security per day, during the recent 3-month period.

Whiting is North Dakota's largest oil producer. The company is expected to grow by 5 percent over the next five years. Those same analysts are projecting that the stock will reach $14.22 on a short term basis.

However, shares of the Denver-based company were down 3.5% after the bell as the oil producer's revenue fell below analysts' expectations due to a steep drop in production. RBC Capital Markets reiterated a "hold" rating and issued a $12.00 price objective (up previously from $10.00) on shares of Whiting Petroleum Corporation in a research note on Friday, November 25th. Vetr raised Whiting Petroleum Corporation from a buy rating to a strong-buy rating and set a $15.79 price objective for the company in a report on Monday, January 9th. Finally, Wells Fargo & Company downgraded Whiting Petroleum Corporation from an "outperform" rating to a "market perform" rating in a research note on Friday, December 16th. They issued a "buy" rating and a $23.00 price objective on the stock. (NASDAQ:SCYX). The majority of analysts covering the equity have either a Buy or Strong Buy recommendation on the stock, yielding a consensus score of 1.60. The company presently has an average rating of "Hold" and an average price target of $13.21.

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