Whiting Petroleum Corp (WLL) reported quarterly earnings results on Wednesday, Jul-27-2016. The company reported $-0.70 earnings per share for the quarter, missing the analyst consensus estimate by $-0.25. Analysts had a consensus of $-0.45. The company posted revenue of $339.58 million in the period, compared to analysts expectations of $407.63 million. The company’s revenue was down -42.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.
Many Wall Street Analysts have commented on Whiting Petroleum Corp. Credit Suisse Upgraded Whiting Petroleum Corp on Jul 13, 2016 to ” Outperform”, Price Target of the shares are set at $14.Shares were Upgraded by Seaport Global Securities on Jul 12, 2016 to ” Neutral” and Lowered the Price Target to $ 8 from a previous price target of $9 .Whiting Petroleum Corp was Downgraded by Goldman to ” Neutral” on Jul 6, 2016.
Whiting Petroleum Corp closed down -0.51 points or -6.94% at $6.84 with 4,04,30,751 shares getting traded on Thursday. Post opening the session at $7.01, the shares hit an intraday low of $6.68 and an intraday high of $7.13 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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.