Whiting Petroleum Corp (NYSE:WLL) Expected to Post Earnings of $0.45 Per Share

Wall Street analysts forecast that Whiting Petroleum Corp (NYSE:WLL) will announce earnings per share of $0.45 for the current quarter, Zacks reports. Twelve analysts have made estimates for Whiting Petroleum’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.24. Whiting Petroleum reported earnings of $0.62 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 27.4%. The firm is scheduled to issue its next earnings results on Tuesday, July 30th.

On average, analysts expect that Whiting Petroleum will report full-year earnings of $1.43 per share for the current financial year, with EPS estimates ranging from ($0.18) to $2.92. For the next fiscal year, analysts forecast that the firm will report earnings of $2.59 per share, with EPS estimates ranging from $0.26 to $11.67. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Whiting Petroleum.

Whiting Petroleum (NYSE:WLL) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas exploration company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.36). Whiting Petroleum had a return on equity of 2.98% and a net margin of 13.22%. The business had revenue of $389.50 million during the quarter, compared to analyst estimates of $421.43 million. During the same period in the prior year, the business posted $0.92 EPS. Whiting Petroleum’s revenue was down 24.4% compared to the same quarter last year.

A number of analysts have recently commented on the company. Capital One Financial upgraded Whiting Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, March 20th. Morgan Stanley set a $21.00 price objective on Whiting Petroleum and gave the stock a “hold” rating in a research note on Monday. Wells Fargo & Co lowered their price objective on Whiting Petroleum from $45.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Ifs Securities lowered Whiting Petroleum from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 23rd. Finally, MKM Partners began coverage on Whiting Petroleum in a research note on Thursday, June 6th. They issued a “buy” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $43.73.

Shares of WLL stock opened at $17.26 on Friday. The firm’s 50 day moving average is $19.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $1.60 billion, a PE ratio of 7.92 and a beta of 3.06. Whiting Petroleum has a twelve month low of $15.40 and a twelve month high of $55.73.

Several hedge funds and other institutional investors have recently modified their holdings of WLL. Vanguard Group Inc lifted its position in Whiting Petroleum by 4.1% in the third quarter. Vanguard Group Inc now owns 9,462,009 shares of the oil and gas exploration company’s stock worth $501,865,000 after purchasing an additional 373,404 shares during the period. Deutsche Bank AG increased its stake in shares of Whiting Petroleum by 71.3% in the fourth quarter. Deutsche Bank AG now owns 2,524,537 shares of the oil and gas exploration company’s stock worth $57,280,000 after acquiring an additional 1,051,214 shares during the last quarter. GMT Capital Corp increased its stake in shares of Whiting Petroleum by 2.3% in the first quarter. GMT Capital Corp now owns 1,903,395 shares of the oil and gas exploration company’s stock worth $49,755,000 after acquiring an additional 41,900 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Whiting Petroleum by 190.1% in the first quarter. Principal Financial Group Inc. now owns 1,134,062 shares of the oil and gas exploration company’s stock worth $29,644,000 after acquiring an additional 743,087 shares during the last quarter. Finally, Norges Bank bought a new stake in Whiting Petroleum in the fourth quarter worth $23,869,000. Institutional investors and hedge funds own 99.70% 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.

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

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