Whiting Petroleum Corp (WLL) is Upgraded by Morgan Stanley to Equal-Weight

Whiting Petroleum Corp (WLL) was Upgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Underweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 24, 2016.

Many Wall Street Analysts have commented on Whiting Petroleum Corp. Whiting Petroleum Corp was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 29, 2016. Company shares were Reiterated by Wunderlich on Apr 29, 2016 to “Hold”, Firm has raised the Price Target to $ 14 from a previous price target of $10 .RBC Capital Mkts Downgraded Whiting Petroleum Corp on Apr 28, 2016 to ” Sector Perform”, Price Target of the shares are set at $12.

On the company’s financial health, Whiting Petroleum Corp reported $-0.85 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $-0.72. The company had revenue of $292.00 million for the quarter, compared to analysts expectations of $351.05 million. The company’s revenue was down -44.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.23 EPS.

Whiting Petroleum Corp opened for trading at $11.83 and hit $12.45 on the upside on Tuesday, eventually ending the session at $12.38, with a gain of 2.82% or 0.34 points. The heightened volatility saw the trading volume jump to 1,62,23,010 shares. Company has a market cap of $3,114 M.

In a different news, on May 5, 2016, James J Volker (CEO) purchased 10,000 shares at $10.30 per share price. According to the SEC, on Mar 4, 2015, Lynn A Peterson (director) sold 25,000 shares at $19.73 per share price.

Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in exploration development acquisition and production of crude oil NGLs and natural gas in the Rocky Mountains and Permian Basin regions of the United States. The Company’s Rocky Mountains operations include assets in the states of Colorado Montana North Dakota Utah and Wyoming. The Company’s Permian Basin operations include assets in Texas and New Mexico. The Company’s other operations primarily include its assets in Arkansas Michigan Oklahoma and Texas. As of December 31 2014 The Company’s estimated proved reserves totaled 780.3 Million Barrels of Oil Equivalent (MMBOE). At December 31 2014 the Company’s probable reserves were estimated to be 399.3 MMBOE and its possible reserves were estimated to be 225.5 MMBOE for a total of 624.8 MMBOE.

Whiting Petroleum Corp

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