The shares of Whiting Petroleum Corp (NYSE:WLL)currently has mean rating of 2.6 while 10 analyst have recommended the shares as ‘BUY’ ,6 recommended as ‘OUTPERFORM’ and 21 recommended as ‘HOLD’.The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell
The mean price target for the shares of Whiting Petroleum Corp (NYSE:WLL)is at $13.47 while the highest price target suggested by the analysts is $32.00 and low price target is $3.00. The mean price target is calculated keeping in view the consensus of 35 brokerage firms.
The company’s mean estimate for sales for the current quarter ending Jun 16 is 369.02M by 31 analysts. The means estimate of sales for the year ending Dec 16 is 1.47B by 30 analysts.
The average estimate of EPS for the current fiscal quarter for Whiting Petroleum Corp (NYSE:WLL)stands at $-0.56 while the EPS for the current year is fixed at $-2.27 by 36.00 analysts
The next one year’s EPS estimate is set at -1.28 by 39.00 analysts while a year ago the analysts suggested the company’s EPS at $-2.27. The analysts also projected the company’s long-term growth at -41.18% for the upcoming five years.
In its latest quarter ended on 31 Mar 2016 , Whiting Petroleum Corp (NYSE:WLL)reported earnings of $-0.85. The posted earnings missed the analyst’s consensus by $-0.13 with the surprise factor of -18.10%. In the matter of earnings surprises, the term ‘Cockroach Effect’ is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Whiting Petroleum Corp (NYSE:WLL) traded down -3.61% during trading on Friday, hitting $12.43 . The stock had a trading volume of 16.4 M shares. The firm has a 50 day moving average of $10.92 and a 200-day moving average of $9.62. The stock has a market cap of $2.46B . On Jun 17, 2015 the shares registered one year high at $36.39 and the one year low was seen on Feb 25, 2016.
On May 10, 2016 Whiting Petroleum Corp (NYSE:WLL) announced that it gave notice to mandatorily convert $476.3 million of outstanding convertible notes into shares of Whiting common stock on May 18, 2016. Prior to such notice, holders of $0.4 million of outstanding convertible notes had voluntarily converted such notes into shares of Whiting common stock. As a result, the Company will have issued approximately 41.8 million shares of its common stock to retire all of the $476.7 million of convertible senior notes and convertible senior subordinated notes that the Company issued in March 2016 (as identified in the chart below) in exchange for the same amount of senior notes and senior subordinated notes.
James J. Volker, Whiting’s Chairman, President and CEO, commented, “We continue to be focused on improving our balance sheet. Retiring $476.7 million of our debt will further strengthen our financial position and liquidity.”
(1) The conversions do not impact Whiting’s outstanding 1.25% Convertible Senior Notes due 2020.
Pursuant to the terms of the convertible notes, holders of the convertible notes may give notice to voluntarily convert such notes up to the close of business on May 17, 2016. If all holders of the convertible notes voluntarily convert such notes, Whiting will make early conversion payments to holders of such notes totaling approximately $41.9 million, plus accrued and unpaid interest to the conversion date. Holders who do not voluntarily convert their convertible notes will not receive an early conversion payment or accrued and unpaid interest.
By: Simon Holdsworth (CWRU Observer).
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