Whiting Petroleum (WLL): What's Expected In Q2 Earnings?
Zacks Investment Research | Jul 21, 2016 11:06PM ET
Domestic oil and gas explorer Whiting Petroleum Corp. (NYSE:WLL) is set to release second-quarter 2016 results after the closing bell on Wednesday, Jul 27.
In the preceding three-month period, this Denver, CO-based firm delivered a negative earnings surprise of 19.72%. However, the trailing four-quarter average beat for the company is 117.24%. Let's see what is in store for this quarter.
Factors to Consider This Quarter
As a leading upstream energy firm, Whiting Petroleum’s business is dependent on commodity prices.
Throughout the quarter under review, oil price improved significantly from mid-February when West Texas Intermediate (WTI) crude fell to a 12-year low mark of $26.05 per barrel. Moreover, last month, oil prices settled above the psychologically important $50 per barrel level for the first time in more than 10 months. Despite these improvements, the pricing scenario of the commodity was weaker than the year-ago-comparable quarter.
On the production front, Whiting Petroleum projects second-quarter volumes of 12.2–12.7 million barrels of oil equivalent (MMBOE), lower than 15.49 MMBOE output in second-quarter 2015.
Overall, both the output figure and crude prices, if compared with the Apr–Jun period of 2015 are not in favor of the company.
Earnings Whispers
Our proven model does not conclusively show that Whiting Petroleum will beat estimates this quarter. That is because a stock needs to have both a positive Zacks Investment Research
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