Winning Stock Forecast: Whiting Petroleum Corporation (NYSE: WLL) Returns up to 19.14% in 14 days as forecasted

Whiting Petroleum Corporation engages in the acquisition, exploration, development, and production of crude oil, natural gas liquids, and natural gas primarily in the Rocky Mountains region of the United States. The company sells its oil and gas production to end users, marketers, and other purchasers. As of December 31, 2017, it had interests in 1,980 net productive wells on approximately 490,000 net developed acres, as well as total estimated proved reserves of 617.6 million barrels of oil equivalent. The company was founded in 1980 and is headquartered in Denver, Colorado.

Over the 14 days after I Know First issued its bullish forecast for WLL on May 7, 2018, Whiting Petroleum Corporation’s stock price jumped from $46.54 to $53.39 per share, outperforming the market by about 14%. The company’s Q1 results of 2018 contributed to the growth, released with the following highlights:

  • Average Production of 127,050 barrels of oil equivalent per day
  • Capital expenditure of $187 million
  • Net cash provided by operating activities of $233 million exceeded capital expenditures by $46 million
  • Discretionary cash flow of $290 million exceeded capital expenditures by $103 million
  • Diluted Earnings per Share of $0.16 and Adjusted Earnings per Share of $0.92

In addition to the above highlights, Whiting had a few reductions in order to optimize their performance. Depletion and amortization of $16.43 per BOE, oil differentials of $4.31 per barrel (Bbl) and natural gas differentials of $1.48 per thousand cubic feet (Mcf), all came in below the low end of guidance. Guidance at the midpoint for such metrics called for $17.50 per BOE, $4.50 per Bbl and $1.50 per Mcf, respectively.

[Image Source: Yahoo Finance]

From the above data one can see that Whiting Petroleum Corporation increased its share value by about 16.6% with their improving performance following the announcement of their successful Q1 results of 2018.

With good agreement with the I Know First bullish 14-day forecast that was published on May 7, 2018, WLL stock grow after the financial operations resulted for Q1 of 2018 were published on April 30, 2018. The forecast illustrated a signal of 60.23 and a predictability of 0.26. In accordance with the forecast, WLL’s stock returned 19.14% over this period, highlighting the accuracy of the prediction produced by the I Know First algorithm.

Current I Know First subscribers received this bullish WLL forecast on May 7, 2018

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