Why Has JP Morgan Given Whiting Petroleum Corporation (NYSE:WLL) a $19.00 Price Target
In a note made public on Wednesday morning, equity analysts at JP Morgan have started coverage for Whiting Petroleum Corporation (NYSE:WLL) shares. The firm has decided to set a Overweight rating along with a $19.00, adding 53.47% to the target.
From a total of 37 analysts covering Whiting Petroleum Corporation (NYSE:WLL) stock, 24 rate it a ”Buy”, 0 a “Sell”, and 15 a ”Hold”. This means that 62% of the ratings are positive. The highest target price is $53 while the lowest target price is $17. The mean of all analyst targets is $27.68 with a 136.43% above today’s ($12.38) stock price. Whiting Petroleum Corporation was the topic of 36 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley downgraded shares on October 13 to “Equal-Weight” rating. Vetr upgraded shares to “Buy” rating and $23.23 target share price in a report from a September 1. Citigroup maintained WLL stock in a recent report from September 14 with “Buy” rating. CLSA upgraded the rating on August 10. CLSA has a “Underperform” rating and a $20 price target on shares. Finally, IBERIA reinitiated the stock with “Sector Perform” rating in a report issued on a September 2.
The stock increased 0.16% or $0.02 during the last trading session, striking $12.38. Approximately 6,430 shares of stock traded hands. Whiting Petroleum Corp (NYSE:WLL) has declined 66.00% since May 6, 2015 and is downtrending. It has underperformed by 65.20% the S&P500.
The overall sentiment of institutions has decreased to 0.92 in Q2 2015. Its down 0.14, from 1.06 in 2015Q2. The ratio dived, as 90 institutions have sold all the shares of Whiting Petroleum Corp that they owned while 116 funds have taken shares off the table. 51 funds have purchased shares for the first time while 139 added to their positions. These institutions now hold 171.87 million shares or 4.89% less than the 180.70 million shares they owned in 2015Q2.
The Fund Vr Advisory Services Ltd currently is holding shares equating to 6.45% of its total portfolio in Whiting Petroleum Corp representing a total of 280,000 shares. Another fund,Sound Energy Partners Inc., is holding a total of 163,900 shares equating to 5.06% of their holdings. Additionally, Glendon Capital Management Lp has a 621,120 share stake in Whiting Petroleum Corp which represents 4.93% of their total portfolio. The Fund, Blackthorn Investment Group Llc, based out of Kansas, has also built up a stake in the stock, which represents a total of 4.55% of their total portfolio. Finally Tbp Investments Management Llc, a fund which is based in the state of Texas reported a total holdings of 105,000 shares.
Whiting Petroleum Corporation is an independent gas and oil company. The company has a market cap of $2.52 billion. The Firm 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. It currently has negative earnings. The Company’s Rocky Mountains activities include assets in the states of Colorado, Montana, North Dakota, Utah and Wyoming.
According to Zacks Investment Research, “WHITING PETROLEUM CORPORATION, a Delaware corporation, is an independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States. The Company trades publicly under the symbol WLL on the New York Stock Exchange.” Get a free copy of the Zacks research report on Whiting Petroleum Corp (WLL).