Today, Whiting Petroleum Corp. (WLL) Bonds Drop 0.8% During Trading

Today, Whiting Petroleum Corp. (WLL) Bonds Drop 0.8% During Trading
An issue of Whiting Petroleum Corp. (NYSE:WLL) debt fell 0.8% as a percentage of its face value during trading on Friday. The debt issue has a 5.75% coupon and is set to mature on March 15, 2021. The bonds in the issue are now trading at $97.00 and were trading at $94.47 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.

WLL has been the subject of several recent analyst reports. Vetr cut shares of Whiting Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $9.80 target price for the company. in a report on Monday, October 3rd. Citigroup Inc. decreased their target price on shares of Whiting Petroleum Corp. from $16.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, August 4th. KLR Group reaffirmed a “buy” rating and issued a $15.00 target price (down from $18.00) on shares of Whiting Petroleum Corp. in a report on Monday, August 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $13.00 target price on shares of Whiting Petroleum Corp. in a report on Friday, July 29th. Finally, SunTrust Banks Inc. set a $20.00 target price on shares of Whiting Petroleum Corp. and gave the stock a “buy” rating in a report on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.07.

Shares of Whiting Petroleum Corp. (NYSE:WLL) traded down 2.61% on Friday, reaching $10.06. 8,525,326 shares of the company’s stock traded hands. Whiting Petroleum Corp. has a 52 week low of $3.35 and a 52 week high of $17.04. The firm’s market capitalization is $2.82 billion. The firm’s 50 day moving average is $8.81 and its 200 day moving average is $9.09.

Whiting Petroleum Corp. (NYSE:WLL) last announced its earnings results on Wednesday, October 26th. The oil and gas exploration company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by $0.07. Whiting Petroleum Corp. had a negative return on equity of 11.83% and a negative net margin of 106.77%. The business had revenue of $129.23 million for the quarter, compared to analyst estimates of $350.95 million. During the same period last year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was down 74.6% compared to the same quarter last year. Analysts expect that Whiting Petroleum Corp. will post ($2.19) earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in WLL. Clinton Group Inc. acquired a new stake in shares of Whiting Petroleum Corp. during the third quarter valued at about $102,000. Moors & Cabot Inc. boosted its stake in shares of Whiting Petroleum Corp. by 2.9% in the third quarter. Moors & Cabot Inc. now owns 11,650 shares of the oil and gas exploration company’s stock valued at $102,000 after buying an additional 323 shares during the period. Investors Capital Advisory Services acquired a new stake in shares of Whiting Petroleum Corp. during the second quarter valued at about $113,000. World Asset Management Inc acquired a new stake in shares of Whiting Petroleum Corp. during the third quarter valued at about $110,000. Finally, Profund Advisors LLC acquired a new stake in shares of Whiting Petroleum Corp. during the second quarter valued at about $128,000. 74.21% of the stock is currently owned by institutional investors.

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