We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Whiting (WLL) Set to Beat Q2 Earnings on Output, Oil Price
Read MoreHide Full Article
We expect Whiting Petroleum Corporation to beat expectations when it reports second-quarter 2018 results on Tuesday, Jul 31, after market closes. The current Zacks Consensus Estimate for the quarter under review is a profit of 61 cents on revenues of $501.2 million.
In the preceding three-month period, the domestic oil and gas explorer beat the consensus mark by a massive 318.2% on robust output and prices.
As far as earnings surprises are concerned, the Denver, CO-based upstream operator is on a firm footing, having gone past the Zacks Consensus Estimate in each of the last four reports. This is depicted in the graph below:
Whiting Petroleum Corporation Price and EPS Surprise
Investors are keeping their fingers crossed and hoping that Whiting Petroleum can maintain the strong earnings trend. Thankfully, our model indicates that the company might beat on earnings this time around too.
Let’s delve deep to find out the factors likely to impact Whiting Petroleum’s second-quarter results.
Why a Likely Positive Surprise?
Our proven model shows that Whiting Petroleum is likely to beat earnings in the to-be-reported quarter as it has the right combination of two key ingredients. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to be able to beat consensus estimates. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +0.49%. A favorable Zacks ESP serves as a meaningful and leading indicator of a likely positive earnings surprise.
Zacks Rank: Whiting Petroleum is #3 Ranked which, when combined with a positive ESP, makes us confident of earnings beat.
We caution against Sell-rated stocks (Zacks Rank #4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
What is Driving the Better-Than-Expected Earnings?
We believe that the improving oil price environment and strong production bode well for the company’s upcoming report as approximately 70% of Whiting Petroleum’s volumes comprise of oil.
Management had earlier guided second-quarter total production in the band of 11.0-11.5 million barrels of oil equivalent (MMBOE) – primarily from the Williston Basin. We note that the current Zacks Consensus Estimate for the quarterly output is 11.35 MMBOE, slightly above the midpoint of the company’s forecast range and ahead of the 10.25 MMBOE reported in the year-ago quarter.
Meanwhile, analysts polled by Zacks expect average realized oil price to rise 50% from the year-ago quarter to $61 per barrel.
Other Stocks to Consider
Whiting Petroleum is not the only energy firm looking up this earnings season. Here are some companies from the space which, according to our model, also have the right combination of elements to post earnings beat this quarter
Marathon Oil Corporation (MRO - Free Report) has an Earnings ESP of +1.40% and a Zacks Rank #2. The company is anticipated to release earnings on Aug 1.
Jones Energy, Inc. (JONE - Free Report) has an Earnings ESP of +13.97% and a Zacks Rank #3. The firm is expected to release earnings on Aug 2.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
Whiting (WLL) Set to Beat Q2 Earnings on Output, Oil Price
We expect Whiting Petroleum Corporation to beat expectations when it reports second-quarter 2018 results on Tuesday, Jul 31, after market closes. The current Zacks Consensus Estimate for the quarter under review is a profit of 61 cents on revenues of $501.2 million.
In the preceding three-month period, the domestic oil and gas explorer beat the consensus mark by a massive 318.2% on robust output and prices.
As far as earnings surprises are concerned, the Denver, CO-based upstream operator is on a firm footing, having gone past the Zacks Consensus Estimate in each of the last four reports. This is depicted in the graph below:
Whiting Petroleum Corporation Price and EPS Surprise
Whiting Petroleum Corporation Price and EPS Surprise | Whiting Petroleum Corporation Quote
Investors are keeping their fingers crossed and hoping that Whiting Petroleum can maintain the strong earnings trend. Thankfully, our model indicates that the company might beat on earnings this time around too.
Let’s delve deep to find out the factors likely to impact Whiting Petroleum’s second-quarter results.
Why a Likely Positive Surprise?
Our proven model shows that Whiting Petroleum is likely to beat earnings in the to-be-reported quarter as it has the right combination of two key ingredients. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to be able to beat consensus estimates. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +0.49%. A favorable Zacks ESP serves as a meaningful and leading indicator of a likely positive earnings surprise.
Zacks Rank: Whiting Petroleum is #3 Ranked which, when combined with a positive ESP, makes us confident of earnings beat.
We caution against Sell-rated stocks (Zacks Rank #4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
What is Driving the Better-Than-Expected Earnings?
We believe that the improving oil price environment and strong production bode well for the company’s upcoming report as approximately 70% of Whiting Petroleum’s volumes comprise of oil.
Management had earlier guided second-quarter total production in the band of 11.0-11.5 million barrels of oil equivalent (MMBOE) – primarily from the Williston Basin. We note that the current Zacks Consensus Estimate for the quarterly output is 11.35 MMBOE, slightly above the midpoint of the company’s forecast range and ahead of the 10.25 MMBOE reported in the year-ago quarter.
Meanwhile, analysts polled by Zacks expect average realized oil price to rise 50% from the year-ago quarter to $61 per barrel.
Other Stocks to Consider
Whiting Petroleum is not the only energy firm looking up this earnings season. Here are some companies from the space which, according to our model, also have the right combination of elements to post earnings beat this quarter
Murphy Oil Corporation (MUR - Free Report) has an Earnings ESP of +5.99% and a Zacks Rank #2. The company is anticipated to release earnings on Aug 8. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Marathon Oil Corporation (MRO - Free Report) has an Earnings ESP of +1.40% and a Zacks Rank #2. The company is anticipated to release earnings on Aug 1.
Jones Energy, Inc. (JONE - Free Report) has an Earnings ESP of +13.97% and a Zacks Rank #3. The firm is expected to release earnings on Aug 2.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>