Investors Buy Large Volume of Put Options on Whiting Petroleum (WLL)

Whiting Petroleum Corp (NYSE:WLL) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 1,246 put options on the company. This is an increase of approximately 159% compared to the average volume of 482 put options.

Whiting Petroleum (NYSE WLL) traded down $0.68 during trading on Tuesday, hitting $24.35. The company had a trading volume of 4,520,756 shares, compared to its average volume of 4,764,979. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.62. Whiting Petroleum has a 1-year low of $15.88 and a 1-year high of $53.48.

Whiting Petroleum (NYSE:WLL) last posted its earnings results on Wednesday, October 25th. The oil and gas exploration company reported ($0.56) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.24. The business had revenue of $324.20 million during the quarter, compared to the consensus estimate of $330.25 million. Whiting Petroleum had a negative return on equity of 5.06% and a negative net margin of 45.39%. Whiting Petroleum’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned ($1.88) EPS. equities research analysts forecast that Whiting Petroleum will post -2.39 EPS for the current fiscal year.

A number of research firms have issued reports on WLL. Imperial Capital raised their target price on Whiting Petroleum from $6.00 to $30.00 and gave the company a “line” rating in a report on Monday, November 13th. ValuEngine lowered Whiting Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Jefferies Group began coverage on Whiting Petroleum in a report on Monday, October 9th. They issued a “hold” rating and a $24.00 target price on the stock. SunTrust Banks set a $36.00 target price on Whiting Petroleum and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Stifel Nicolaus set a $40.00 target price on Whiting Petroleum and gave the company a “buy” rating in a report on Thursday, October 26th. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.27.

Several institutional investors have recently bought and sold shares of the stock. Wealthsource Partners LLC raised its position in Whiting Petroleum by 51.8% in the 3rd quarter. Wealthsource Partners LLC now owns 79,875 shares of the oil and gas exploration company’s stock valued at $436,000 after purchasing an additional 27,250 shares during the last quarter. California Public Employees Retirement System raised its position in Whiting Petroleum by 5.9% in the 3rd quarter. California Public Employees Retirement System now owns 685,691 shares of the oil and gas exploration company’s stock valued at $3,744,000 after purchasing an additional 37,993 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Whiting Petroleum in the 3rd quarter valued at $133,000. Janus Henderson Group PLC raised its position in Whiting Petroleum by 28.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,026,744 shares of the oil and gas exploration company’s stock valued at $5,606,000 after purchasing an additional 228,987 shares during the last quarter. Finally, DW Partners LP bought a new position in Whiting Petroleum in the 3rd quarter valued at $10,390,000.

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About Whiting Petroleum

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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