It has been about a month since the last earnings report for Whiting Petroleum Corporation . Shares have lost about 2.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Whiting Petroleum Corporation due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Whiting Petroleum Q4 Earnings and Revenues Beat Estimates
Whiting Petroleum Corporation reported fourth-quarter 2020 adjusted net income per share of $1.46, handsomely beating the Zacks Consensus Estimate of a penny and turning around from the year-ago period loss of 22 cents owing to a tight leash on operating expenses, which fell 49.7% from the corresponding period of 2019.
Total operating revenues came in at $212.3 million, ahead of the Zacks Consensus Estimate of $190 million. However, the top line fell 44.2% from the year-ago level of $380.6 million due to lower oil prices.
On an encouraging note, the company’s free cash flow of $89.3 million was higher than the fourth-quarter 2019 figure of $86 million.
Production & Prices
Whiting Petroleum’s total oil and gas production reported a year-over-year decrease of 25.4% to 8,441MBOE (comprising 79% liquids). In particular, oil volumes at 5,110 thousand barrels (MBbl) were down 30.7% from the level achieved in fourth-quarter 2019.
The average realized crude oil price during the fourth quarter was $37.89 per barrel, reflecting a 22.1% decline from the year-ago realization of $48.67. Moreover, the average realized natural gas liquids price was $6.88 per barrel, down 21.7% from the year-ago period. However, natural gas prices were up 82.9% year over year to 75 cents per thousand cubic feet.
Balance Sheet & Capital Expenditure
As of Dec 31, Whiting Petroleum had approximately $25.6 million in cash and cash equivalents. The oil explorer’s long-term debt of $360,000 represented a debt-to-capitalization of 22.7%. In the reported quarter, the company spent $20.5 million on its capital program.
2021 Guidance
Whiting Petroleum announced its 2021 production outlook and projects it within 82-88MBOE per day. Further, the firm expects 2021 capex in the band of $228-$252 million. Finally, management anticipates free cash flow in excess of $150 million for 2021 if oil averages $45 per barrel.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month. The consensus estimate has shifted 242.45% due to these changes.
VGM Scores
Currently, Whiting Petroleum Corporation has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Whiting Petroleum Corporation has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
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Whiting Petroleum Corporation (WLL) Down 2.5% Since Last Earnings Report: Can It Rebound?
It has been about a month since the last earnings report for Whiting Petroleum Corporation . Shares have lost about 2.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Whiting Petroleum Corporation due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Whiting Petroleum Q4 Earnings and Revenues Beat Estimates
Whiting Petroleum Corporation reported fourth-quarter 2020 adjusted net income per share of $1.46, handsomely beating the Zacks Consensus Estimate of a penny and turning around from the year-ago period loss of 22 cents owing to a tight leash on operating expenses, which fell 49.7% from the corresponding period of 2019.
Total operating revenues came in at $212.3 million, ahead of the Zacks Consensus Estimate of $190 million. However, the top line fell 44.2% from the year-ago level of $380.6 million due to lower oil prices.
On an encouraging note, the company’s free cash flow of $89.3 million was higher than the fourth-quarter 2019 figure of $86 million.
Production & Prices
Whiting Petroleum’s total oil and gas production reported a year-over-year decrease of 25.4% to 8,441MBOE (comprising 79% liquids). In particular, oil volumes at 5,110 thousand barrels (MBbl) were down 30.7% from the level achieved in fourth-quarter 2019.
The average realized crude oil price during the fourth quarter was $37.89 per barrel, reflecting a 22.1% decline from the year-ago realization of $48.67. Moreover, the average realized natural gas liquids price was $6.88 per barrel, down 21.7% from the year-ago period. However, natural gas prices were up 82.9% year over year to 75 cents per thousand cubic feet.
Balance Sheet & Capital Expenditure
As of Dec 31, Whiting Petroleum had approximately $25.6 million in cash and cash equivalents. The oil explorer’s long-term debt of $360,000 represented a debt-to-capitalization of 22.7%. In the reported quarter, the company spent $20.5 million on its capital program.
2021 Guidance
Whiting Petroleum announced its 2021 production outlook and projects it within 82-88MBOE per day. Further, the firm expects 2021 capex in the band of $228-$252 million. Finally, management anticipates free cash flow in excess of $150 million for 2021 if oil averages $45 per barrel.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month. The consensus estimate has shifted 242.45% due to these changes.
VGM Scores
Currently, Whiting Petroleum Corporation has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Whiting Petroleum Corporation has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.