Whiting Petroleum Corp (WLL) Expected to Announce Earnings of $0.60 Per Share

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Analysts expect Whiting Petroleum Corp (NYSE:WLL) to post $0.60 earnings per share for the current fiscal quarter, according to Zacks. Eleven analysts have issued estimates for Whiting Petroleum’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.37. Whiting Petroleum posted earnings of ($0.56) per share during the same quarter last year, which suggests a positive year over year growth rate of 207.1%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, October 30th.

On average, analysts expect that Whiting Petroleum will report full year earnings of $2.93 per share for the current year, with EPS estimates ranging from $2.32 to $3.39. For the next fiscal year, analysts expect that the business will post earnings of $4.45 per share, with EPS estimates ranging from $2.86 to $5.99. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Whiting Petroleum.

Whiting Petroleum (NYSE:WLL) last released its quarterly earnings data on Tuesday, July 31st. The oil and gas exploration company reported $0.62 EPS for the quarter, meeting analysts’ consensus estimates of $0.62. Whiting Petroleum had a positive return on equity of 1.82% and a negative net margin of 58.02%. The business had revenue of $526.40 million for the quarter, compared to the consensus estimate of $505.32 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue for the quarter was up 69.0% on a year-over-year basis.

WLL has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on Whiting Petroleum in a report on Wednesday, October 3rd. They issued an “outperform” rating and a $67.00 price objective on the stock. Robert W. Baird increased their price objective on Whiting Petroleum from $50.00 to $61.00 and gave the company an “outperform” rating in a report on Sunday, July 29th. Morgan Stanley set a $67.00 price objective on Whiting Petroleum and gave the company a “buy” rating in a report on Friday. Piper Jaffray Companies reiterated a “hold” rating and issued a $75.00 price objective on shares of Whiting Petroleum in a report on Friday, July 20th. Finally, Citigroup initiated coverage on Whiting Petroleum in a report on Tuesday, October 2nd. They issued a “top pick” rating and a $67.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Whiting Petroleum currently has a consensus rating of “Buy” and a consensus price target of $51.18.

In related news, CFO Michael J. Stevens sold 12,476 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $55.04, for a total transaction of $686,679.04. Following the transaction, the chief financial officer now owns 96,571 shares in the company, valued at approximately $5,315,267.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rick A. Mr. Ross sold 2,079 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $55.01, for a total value of $114,365.79. Following the transaction, the insider now owns 73,536 shares in the company, valued at approximately $4,045,215.36. The disclosure for this sale can be found here. Insiders have sold a total of 23,181 shares of company stock worth $1,236,658 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in WLL. Northern Trust Corp grew its stake in shares of Whiting Petroleum by 1.8% in the 1st quarter. Northern Trust Corp now owns 522,031 shares of the oil and gas exploration company’s stock valued at $17,666,000 after purchasing an additional 8,999 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Whiting Petroleum by 12.1% in the 1st quarter. California Public Employees Retirement System now owns 191,495 shares of the oil and gas exploration company’s stock valued at $6,480,000 after purchasing an additional 20,700 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Whiting Petroleum by 1,641.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 23,738 shares of the oil and gas exploration company’s stock valued at $803,000 after purchasing an additional 22,375 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Whiting Petroleum by 675.4% in the 1st quarter. Nuveen Asset Management LLC now owns 188,283 shares of the oil and gas exploration company’s stock valued at $6,371,000 after purchasing an additional 164,000 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Whiting Petroleum in the 1st quarter valued at approximately $631,000. Institutional investors own 94.86% of the company’s stock.

WLL opened at $43.72 on Friday. Whiting Petroleum has a one year low of $18.56 and a one year high of $56.47. The stock has a market capitalization of $4.82 billion, a PE ratio of -33.37, a price-to-earnings-growth ratio of 2.28 and a beta of 2.94. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71.

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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