Whiting Petroleum Corp (NYSE:WLL) Sees Large Decline in Short Interest

Whiting Petroleum Corp (NYSE:WLL) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 20,859,600 shares, a decline of 12.7% from the July 31st total of 23,881,300 shares. Based on an average trading volume of 6,690,000 shares, the short-interest ratio is currently 3.1 days. Currently, 23.1% of the company’s shares are short sold.

Institutional investors have recently bought and sold shares of the stock. Investors Research Corp increased its position in Whiting Petroleum by 113.3% during the 2nd quarter. Investors Research Corp now owns 1,600 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 850 shares in the last quarter. Personal Wealth Partners purchased a new stake in Whiting Petroleum during the 2nd quarter worth about $44,000. Advisory Services Network LLC purchased a new stake in Whiting Petroleum during the 2nd quarter worth about $87,000. Victory Capital Management Inc. purchased a new stake in Whiting Petroleum during the 1st quarter worth about $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Whiting Petroleum during the 1st quarter worth about $213,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.

A number of brokerages have recently commented on WLL. Imperial Capital cut their price target on Whiting Petroleum from $19.00 to $16.00 and set an “in-line” rating on the stock in a report on Friday, August 2nd. Credit Suisse Group lowered Whiting Petroleum from an “outperform” rating to a “neutral” rating in a report on Thursday, August 1st. Citigroup cut their price target on Whiting Petroleum from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays started coverage on Whiting Petroleum in a report on Friday, August 30th. They issued an “equal weight” rating and a $8.00 price target on the stock. Finally, ValuEngine raised shares of Whiting Petroleum from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.84.

Shares of NYSE WLL traded down $0.39 during mid-day trading on Thursday, hitting $7.54. 326,403 shares of the company were exchanged, compared to its average volume of 5,715,712. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $9.60 and a 200-day simple moving average of $19.29. Whiting Petroleum has a 1-year low of $6.00 and a 1-year high of $55.17. The firm has a market cap of $677.44 million, a price-to-earnings ratio of 3.45 and a beta of 3.16.

Whiting Petroleum (NYSE:WLL) last released its earnings results on Wednesday, July 31st. The oil and gas exploration company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.52). The business had revenue of $426.26 million during the quarter, compared to analyst estimates of $452.02 million. Whiting Petroleum had a net margin of 13.51% and a return on equity of 0.96%. Whiting Petroleum’s revenue was down 19.0% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. Analysts anticipate that Whiting Petroleum will post -0.15 earnings per share for the current fiscal year.

Whiting Petroleum Company Profile

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.

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