Back to top

Analyst Blog

Independent oil and gas company, Whiting Petroleum Corp. (WLL - Snapshot Report), has closed the offering of its senior notes worth $400 million, scheduled to mature in 2021.

Whiting Petroleum issued the notes at 101% of their par value, while the expected rate of return at maturity is 5.750%. The unsecured notes are guaranteed by Whiting Oil and Gas Corp., a wholly owned subsidiary of Whiting Petroleum.

The company received net proceeds of $399.3 million (after deducting the discount given to initial investors and issue-related expenses) from the offering, which will likely be utilized to finance its capital expenditure programs and meet other corporate expenses.

Headquartered in Denver, CO, Whiting Petroleum has an oil-focused asset base. The company acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids.

Whiting Petroleum trades in a 52-week range of $40.19 to $60.65. The exploration and production (E&P) company’s stock has been trading toward the higher end of the range for the greater part of the month with shares settling at $59.98 on Sep 27.

Whiting Petroleum has consistently surpassed the Zacks Consensus Estimate for the last three quarters with an average surprise of 8.24%. We expect this positive trend to continue in the forthcoming earnings release. The company also sports an impressive long-term earnings growth of 11.16%.   

All these make Whiting Petroleum a Zacks Rank #2 (Buy) stock, implying that it is expected to perform better than the broader U.S. equity market over the next one to three months.

Meanwhile, one can also consider other stocks in the E&P industry such as Stone Energy Corp. (SGY - Analyst Report) and Matador Resources Co. (MTDR - Snapshot Report) which sport a Zacks Rank #1 (Strong Buy) or Memorial Production Partners LP (MEMP - Snapshot Report) which currently holds a Zacks Rank #2 (Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
RPC INC RES 24.91 +8.35%
LITHIA MOTO… LAD 94.59 +4.60%
DELTA AIR L… DAL 39.15 +3.90%
FLAMEL TECH… FLML 14.51 +3.50%
SOUTHWEST A… LUV 28.87 +2.92%