Trade Report: Today, Whiting Petroleum Corp. (WLL) Bonds Trading 0.8% Lower

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

An issue of Whiting Petroleum Corp. (NYSE:WLL) bonds fell 0.8% against their face value during trading on Monday. The high-yield issue of debt has a 5% coupon and will mature on March 15, 2019. The debt is now trading at $98.50 and was trading at $96.25 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

Several research firms recently issued reports on WLL. Royal Bank Of Canada increased their price target on shares of Whiting Petroleum Corp. from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday. RBC Capital Markets reiterated a “hold” rating and set a $12.00 price target (up previously from $10.00) on shares of Whiting Petroleum Corp. in a research report on Friday. KeyCorp increased their price target on shares of Whiting Petroleum Corp. from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 22nd. Canaccord Genuity set a $14.00 price target on shares of Whiting Petroleum Corp. and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. Finally, SunTrust Banks Inc. set a $20.00 price target on shares of Whiting Petroleum Corp. and gave the stock a “buy” rating in a research report on Monday, October 10th. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.07.

Whiting Petroleum Corp. (NYSE:WLL) traded down 3.78% on Monday, reaching $9.68. 17,904,177 shares of the company traded hands. Whiting Petroleum Corp. has a one year low of $3.35 and a one year high of $17.04. The stock’s 50 day moving average price is $8.84 and its 200 day moving average price is $9.09. The company’s market capitalization is $2.71 billion.

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

Hedge funds have recently made changes to their positions in the stock. Clinton Group Inc. purchased a new stake in shares of Whiting Petroleum Corp. during the third quarter valued at approximately $102,000. Moors & Cabot Inc. increased 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. World Asset Management Inc purchased a new stake in shares of Whiting Petroleum Corp. during the third quarter valued at approximately $110,000. Investors Capital Advisory Services purchased a new stake in shares of Whiting Petroleum Corp. during the second quarter valued at approximately $113,000. Finally, Comerica Bank increased its stake in shares of Whiting Petroleum Corp. by 4.9% in the second quarter. Comerica Bank now owns 15,230 shares of the oil and gas exploration company’s stock valued at $116,000 after buying an additional 709 shares during the period. 93.86% of the stock is currently owned by institutional investors.

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