Whiting Petroleum Corp. (WLL) Bond Prices Fall 1.3%

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An issue of Whiting Petroleum Corp. (NYSE:WLL) debt fell 1.3% as a percentage of its face value during trading on Tuesday. The high-yield issue of debt has a 6.25% coupon and is set to mature on April 1, 2023. The bonds in the issue are now trading at $85.75. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
WLL has been the subject of several recent analyst reports. FBR & Co reissued a “marketperform” rating on shares of Whiting Petroleum Corp. in a report on Monday, September 12th. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price target on shares of Whiting Petroleum Corp. in a report on Friday, July 29th. Wunderlich raised their price target on Whiting Petroleum Corp. from $7.00 to $11.00 and gave the company a “hold” rating in a report on Friday, July 29th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Whiting Petroleum Corp. in a research note on Tuesday, July 26th. Finally, Citigroup Inc. dropped their price objective on Whiting Petroleum Corp. from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $13.36.
Shares of Whiting Petroleum Corp. (NYSE:WLL) opened at 6.86 on Wednesday. The company has a 50-day moving average price of $7.58 and a 200 day moving average price of $9.32. The company’s market capitalization is $1.89 billion. Whiting Petroleum Corp. has a one year low of $3.35 and a one year high of $22.80.

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Whiting Petroleum Corp. (NYSE:WLL) last released its quarterly earnings results on Wednesday, July 27th. The oil and gas exploration company reported ($0.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $0.18. Whiting Petroleum Corp. had a negative net margin of 155.88% and a negative return on equity of 9.62%. The firm had revenue of $339.58 million for the quarter, compared to the consensus estimate of $374.83 million. During the same quarter last year, the company earned $0.04 earnings per share. The firm’s revenue was down 42.4% on a year-over-year basis. On average, analysts forecast that Whiting Petroleum Corp. will post ($2.04) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. M&T Bank Corp purchased a new stake in Whiting Petroleum Corp. during the first quarter worth about $158,000. RMB Capital Management LLC boosted its stake in Whiting Petroleum Corp. by 354.4% in the first quarter. RMB Capital Management LLC now owns 152,550 shares of the oil and gas exploration company’s stock valued at $1,217,000 after buying an additional 118,979 shares during the last quarter. Teachers Advisors Inc. boosted its stake in Whiting Petroleum Corp. by 14.8% in the first quarter. Teachers Advisors Inc. now owns 201,079 shares of the oil and gas exploration company’s stock valued at $1,605,000 after buying an additional 25,978 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Whiting Petroleum Corp. by 38.1% in the first quarter. TIAA CREF Investment Management LLC now owns 629,990 shares of the oil and gas exploration company’s stock valued at $5,027,000 after buying an additional 173,813 shares during the last quarter. Finally, Shanda Payment Holdings Ltd. boosted its stake in Whiting Petroleum Corp. by 999.4% in the first quarter. Shanda Payment Holdings Ltd. now owns 214,100 shares of the oil and gas exploration company’s stock valued at $1,709,000 after buying an additional 194,626 shares during the last quarter. Institutional investors own 78.66% of the company’s stock.
Whiting Petroleum Corp. Company Profile
Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains and Permian Basin regions of the United States. The Company operates in the segment of exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.

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