Investors Buy Large Volume of Whiting Petroleum Corporation Put Options (WLL)
Whiting Petroleum Corporation (NYSE:WLL) was the target of unusually large options trading on Wednesday. Investors acquired 1,246 put options on the stock. This represents an increase of 159% compared to the average daily volume of 482 put options.
Several brokerages recently weighed in on WLL. BMO Capital Markets set a $10.00 price objective on Whiting Petroleum Corporation and gave the stock a “hold” rating in a research report on Monday, May 15th. FBR & Co dropped their target price on Whiting Petroleum Corporation from $13.00 to $11.00 and set a “mkt perform” rating for the company in a research report on Wednesday, May 10th. Iberia Capital reiterated a “sector perform” rating and issued a $10.00 target price on shares of Whiting Petroleum Corporation in a research report on Friday, May 12th. Credit Suisse Group reiterated an “outperform” rating and issued a $15.00 target price on shares of Whiting Petroleum Corporation in a research report on Monday, May 8th. Finally, Goldman Sachs Group, Inc. (The) downgraded Whiting Petroleum Corporation from a “neutral” rating to a “sell” rating and dropped their target price for the company from $11.50 to $7.25 in a research report on Tuesday, May 30th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Whiting Petroleum Corporation presently has a consensus rating of “Hold” and an average target price of $11.28.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc raised its position in shares of Whiting Petroleum Corporation by 4.7% in the first quarter. World Asset Management Inc now owns 12,665 shares of the oil and gas exploration company’s stock valued at $120,000 after buying an additional 570 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of Whiting Petroleum Corporation by 22.8% in the first quarter. Gotham Asset Management LLC now owns 13,801 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 2,566 shares in the last quarter. Capital Innovations LLC purchased a new position in shares of Whiting Petroleum Corporation during the first quarter valued at about $133,000. Koch Industries Inc. purchased a new position in shares of Whiting Petroleum Corporation during the first quarter valued at about $138,000. Finally, Robecosam AG purchased a new position in shares of Whiting Petroleum Corporation during the first quarter valued at about $138,000. 83.96% of the stock is owned by institutional investors and hedge funds.
Shares of Whiting Petroleum Corporation (NYSE WLL) opened at 4.58 on Friday. The company’s 50-day moving average price is $4.80 and its 200 day moving average price is $7.30. The firm’s market cap is $1.66 billion. Whiting Petroleum Corporation has a 1-year low of $4.18 and a 1-year high of $13.39.
Whiting Petroleum Corporation (NYSE:WLL) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas exploration company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. The business had revenue of $311.50 million during the quarter, compared to analyst estimates of $345.64 million. Whiting Petroleum Corporation had a negative return on equity of 6.77% and a negative net margin of 88.27%. Whiting Petroleum Corporation’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.70) EPS. On average, analysts predict that Whiting Petroleum Corporation will post ($0.71) EPS for the current year.
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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