Whiting Petroleum Corp (WLL) Sees Large Increase in Short Interest
Whiting Petroleum Corp (NYSE:WLL) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 54,123,885 shares, an increase of 13.9% from the April 28th total of 47,509,092 shares. Approximately 15.0% of the shares of the stock are short sold. Based on an average daily volume of 14,907,145 shares, the short-interest ratio is presently 3.6 days.
Several research analysts have commented on WLL shares. Scotiabank set a $16.00 price target on shares of Whiting Petroleum Corp and gave the company a “buy” rating in a report on Monday, March 27th. R. F. Lafferty raised their price target on shares of Whiting Petroleum Corp from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, April 27th. Royal Bank of Canada reissued a “hold” rating and issued a $14.00 price target on shares of Whiting Petroleum Corp in a report on Friday, March 24th. Barclays PLC reissued a “hold” rating and issued a $10.00 price target on shares of Whiting Petroleum Corp in a report on Thursday, April 20th. Finally, KLR Group raised their price target on shares of Whiting Petroleum Corp from $14.00 to $16.00 and gave the company a “buy” rating in a report on Monday, May 1st. Fifteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $12.73.
Shares of Whiting Petroleum Corp (NYSE:WLL) opened at 7.97 on Monday. Whiting Petroleum Corp has a 52 week low of $6.38 and a 52 week high of $14.44. The stock’s 50 day moving average is $8.51 and its 200-day moving average is $10.22. The company’s market cap is $2.89 billion.
Whiting Petroleum Corp (NYSE:WLL) last released its quarterly earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. Whiting Petroleum Corp had a negative return on equity of 11.83% and a negative net margin of 106.77%. The business had revenue of $371.30 million during the quarter, compared to analysts’ expectations of $359.28 million. During the same quarter in the prior year, the business earned ($0.85) earnings per share. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. On average, equities analysts anticipate that Whiting Petroleum Corp will post ($0.49) earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Whiting Petroleum Corp by 95.8% in the first quarter. Dimensional Fund Advisors LP now owns 21,315,605 shares of the oil and gas exploration company’s stock valued at $201,642,000 after buying an additional 10,428,144 shares during the period. Vanguard Group Inc. boosted its stake in Whiting Petroleum Corp by 28.6% in the first quarter. Vanguard Group Inc. now owns 27,919,350 shares of the oil and gas exploration company’s stock valued at $264,116,000 after buying an additional 6,211,479 shares during the period. Norges Bank bought a new stake in Whiting Petroleum Corp during the fourth quarter valued at approximately $38,888,000. Renaissance Technologies LLC bought a new stake in Whiting Petroleum Corp during the first quarter valued at approximately $29,442,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Whiting Petroleum Corp by 18.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 16,400,452 shares of the oil and gas exploration company’s stock valued at $197,133,000 after buying an additional 2,573,518 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.
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About Whiting Petroleum Corp
Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains region of the United States. It is engaged in the exploration and production of crude oil, natural gas liquid (NGLs) and natural gas.
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