Whiting Petroleum (WLL) Q1 Earnings: What's In The Cards?
Zacks Investment Research | Apr 21, 2017 08:55AM ET
Domestic oil and gas explorer Whiting Petroleum Corporation (NYSE:WLL) is set to release first-quarter 2017 results after the closing bell on Apr 26.
In the preceding three-month period, the company delivered a positive earnings surprise of 15.15%. However, the company had missed estimates in three of the last four quarters with an average negative surprise of 18.52%.
Let’s see how things are shaping up for this announcement.
Factors at play
The first two months of the quarter were favorable for Energy firms as oil was almost consistently over the $50 per barrel mark. However, the U.S. shale producers started gathering to the oil patches to take advantage of improved oil prices. This, in turn, pushed the commodity in a comparatively bearish territory in March. In fact, oil traded below $50 per barrel during the month. The stock has been on the downtrend since the last three months, especially in March when oil prices dropped significantly. This is also reflected in the price performance of the company. The company underperformed the Zacks categorized Zacks Investment Research
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