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Why Whiting Petroleum Stock Is Crashing Today

TheMotleyFool

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Why Whiting Petroleum Stock Is Crashing TodayPhoto, wide shot, wide-angle lens, Coal company, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/0e838f13-fa33-4583-92e9-bf3375dacf70.png

Shares of Whiting Petroleum (NYSE: WLL) had cratered more than 37% by 12:00 p.m. EDT on Thursday. Fueling the oil driller's shellacking was its second-quarter report.

Whiting Petroleum shocked investors by posting an unexpected loss during the second quarter. While analysts anticipated that the oil company would produce a profit of $0.25 per share, Whiting turned in a loss of $0.28 per share. Not only did a slump in oil prices during the quarter hurt profitability, but the company also experienced some infrastructure issues that affected its production.

Image source: Getty Images.

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