Oppenheimer Comments on Whiting Petroleum Corp’s Q3 2020 Earnings (NYSE:WLL)

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Whiting Petroleum Corp (NYSE:WLL) – Stock analysts at Oppenheimer cut their Q3 2020 earnings per share estimates for shares of Whiting Petroleum in a research report issued to clients and investors on Monday, November 11th. Oppenheimer analyst T. Rezvan now expects that the oil and gas exploration company will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.12. Oppenheimer has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Whiting Petroleum’s Q4 2020 earnings at $0.03 EPS.

Whiting Petroleum (NYSE:WLL) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas exploration company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.30). Whiting Petroleum had a negative return on equity of 1.90% and a net margin of 6.62%. The firm had revenue of $372.89 million for the quarter, compared to analyst estimates of $405.25 million. During the same period in the previous year, the business posted $0.92 EPS. Whiting Petroleum’s revenue for the quarter was down 34.2% compared to the same quarter last year.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered Whiting Petroleum from a “hold” rating to a “strong sell” rating and set a $7.00 price objective on the stock. in a report on Friday, August 16th. LADENBURG THALM/SH SH lowered Whiting Petroleum from a “buy” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $20.00 in a research note on Thursday, August 1st. Credit Suisse Group lowered Whiting Petroleum from a “neutral” rating to an “underperform” rating in a research note on Friday, October 4th. Citigroup lowered Whiting Petroleum from a “buy” rating to a “neutral” rating and decreased their price target for the company from $14.00 to $10.50 in a research note on Monday, September 23rd. Finally, Wells Fargo & Co decreased their price target on Whiting Petroleum from $10.00 to $8.00 and set a “market perform” rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.59.

Shares of NYSE:WLL traded down $0.15 during trading on Wednesday, hitting $6.58. 5,862,572 shares of the stock were exchanged, compared to its average volume of 6,660,979. Whiting Petroleum has a 1-year low of $6.00 and a 1-year high of $34.47. The company has a market capitalization of $606.23 million, a price-to-earnings ratio of 3.02 and a beta of 3.18. The company’s fifty day simple moving average is $7.22 and its 200-day simple moving average is $13.43. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.44 and a current ratio of 0.44.

Institutional investors and hedge funds have recently modified their holdings of the business. Investors Research Corp raised its position in Whiting Petroleum by 113.3% in the 2nd quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 850 shares during the last quarter. Personal Wealth Partners bought a new position in Whiting Petroleum in the 2nd quarter valued at $44,000. Advisory Services Network LLC bought a new position in Whiting Petroleum in the 2nd quarter valued at $87,000. Rational Advisors LLC raised its position in Whiting Petroleum by 782.4% in the 3rd quarter. Rational Advisors LLC now owns 14,939 shares of the oil and gas exploration company’s stock valued at $120,000 after purchasing an additional 13,246 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Whiting Petroleum by 12.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 23,825 shares of the oil and gas exploration company’s stock valued at $191,000 after purchasing an additional 2,679 shares during the last quarter.

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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Earnings History and Estimates for Whiting Petroleum (NYSE:WLL)

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