UBS Downgrades Whiting Petroleum Corp to Sell

Brokerage firm UBS Downgrades its rating on Whiting Petroleum Corp(WLL). The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at UBS was issued on Mar 23, 2017 in a research report to their Investors and Clients.

Whiting Petroleum Corp (WLL) shares turned negative on Fridays trading session with the shares closing down -0.14 points or -1.67% at a volume of 90,71,657. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.51. The peak price level was also seen at $8.51 while the days lowest was $8.21. Finally the shares closed at $8.22. The 52-week high of the shares is $14.44 while the 52-week low is $6.38. According to the latest information available, the market cap of the company is $3,026 M.

Whiting Petroleum Corp(WLL) last announced its earnings results on Feb 21, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $342.695M. Analysts had an estimated revenue of $354.060M. Earnings per share were $-0.28. Analysts had estimated an EPS of $-0.32.

Several Insider Transactions has been reported to the SEC. On May 5, 2016, James J Volker (CEO) purchased 10,000 shares at $10.30 per share price.Also, 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.

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