Whiting Petroleum Corp (NYSE:WLL) has seen a tremendous rise this year, returning an impressive 44% year to date, but can the company continue to outperform? FBN’s Charles Payne thinks so as Whiting Petroleum Corp (NYSE:WLL) is one of his top picks. He discussed the company’s outlook with Matt McCall, Founder of Penn Financial Group; retail analyst Hitha Prabhakar; Chief Strategist of Belpointe Asset Management, David Nelson and FBN’s Tracy Byrnes on Fox Business, recently.
“[...] As of the end of last year, their total reserves were 438 million barrels equivalent, that was up 16% year over year, that’s absolutely huge. They keep finding more and more oil or natural gas. Now, the company’s production, the numbers were off the chain, they just got better and better every single day last year. That’s a trend they have brought into this year, in fact, recently they got the production expectations for the whole year higher. Earnings estimates, they have been gradually moving up also over the last three months and I think, in the next two quarters the Street is feeling much better about them [...],” Payne said.
Payne also feels that Whiting Petroleum Corp (NYSE:WLL) acquisition of Kodiak Oil & Gas Corp (NYSE:KOG) is going to be good for the company. He expects Whiting Petroleum Corp (NYSE:WLL)’s stock to reach levels of $110. McCall agreed with Payne, he finds all the natural companies attractive right now. According to McCall, when Whiting Petroleum Corp (NYSE:WLL)’s acquisition of Kodiak Oil & Gas Corp (NYSE:KOG) is complete, the joint entity would have better bargaining power. He feels that if someone wants to invest in natural gas companies, Whiting Petroleum Corp (NYSE:WLL) is one of the best bets. David Nelson agreed with them both and feels that Whiting Petroleum Corp (NYSE:WLL) ‘s growth is quite impressive.