Whiting: 2Q Earnings Snapshot
DENVER (AP) _ Whiting Petroleum Corp. (WLL) on Tuesday reported second-quarter net income of $2.1 million, after reporting a loss in the same period a year earlier.
The Denver-based company said it had profit of 2 cents per share. Earnings, adjusted for non-recurring costs, came to 62 cents per share.
The results met Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was also for earnings of 62 cents per share.
The oil and gas company posted revenue of $526.4 million in the period, which beat Street forecasts. Eleven analysts surveyed by Zacks expected $501.2 million.
Whiting shares have risen 88 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $49.75, more than doubling in the last 12 months.