Whiting Petroleum Corporation Sees Unusually High Options Volume (WLL)
Whiting Petroleum Corporation (NYSE:WLL) was the target of some unusual options trading on Wednesday. Investors purchased 1,246 put options on the company. This represents an increase of 159% compared to the average volume of 482 put options.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC raised its holdings in Whiting Petroleum Corporation by 22.8% in the 1st quarter. Gotham Asset Management LLC now owns 13,801 shares of the oil and gas exploration company’s stock worth $131,000 after purchasing an additional 2,566 shares during the period. Chicago Equity Partners LLC acquired a new position in Whiting Petroleum Corporation in the 2nd quarter worth about $102,000. Shell Asset Management Co. acquired a new position in Whiting Petroleum Corporation in the 3rd quarter worth about $1,565,000. Campbell & CO Investment Adviser LLC raised its holdings in Whiting Petroleum Corporation by 24.4% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 20,349 shares of the oil and gas exploration company’s stock worth $112,000 after purchasing an additional 3,988 shares during the period. Finally, Palisade Capital Management LLC NJ acquired a new position in Whiting Petroleum Corporation in the 2nd quarter worth about $121,000. 83.23% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on WLL. Piper Jaffray Companies cut their price target on Whiting Petroleum Corporation from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, September 18th. Morgan Stanley downgraded Whiting Petroleum Corporation from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $5.00 to $3.50 in a report on Tuesday, September 12th. Cowen and Company reiterated a “buy” rating and issued a $8.00 price target on shares of Whiting Petroleum Corporation in a report on Sunday, September 17th. Citigroup Inc. cut their price target on Whiting Petroleum Corporation from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Finally, KeyCorp reiterated a “buy” rating and issued a $7.00 price target on shares of Whiting Petroleum Corporation in a report on Tuesday, September 19th. Eight research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.13.
Whiting Petroleum Corporation (NYSE:WLL) opened at $6.51 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.59 and a current ratio of 0.59.
Whiting Petroleum Corporation (NYSE:WLL) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $324.20 million during the quarter, compared to analysts’ expectations of $330.25 million. Whiting Petroleum Corporation had a negative return on equity of 5.06% and a negative net margin of 45.39%. Whiting Petroleum Corporation’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.47) EPS. equities research analysts expect that Whiting Petroleum Corporation will post -0.6 EPS for the current fiscal year.
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About Whiting Petroleum Corporation
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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