Whiting Petroleum Co. (NYSE:WLL) Shares Sold by Mackay Shields LLC

Mackay Shields LLC cut its holdings in shares of Whiting Petroleum Co. (NYSE:WLL) by 26.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 456,540 shares of the oil and gas exploration company’s stock after selling 163,825 shares during the period. Mackay Shields LLC’s holdings in Whiting Petroleum were worth $24,904,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. FMR LLC increased its position in shares of Whiting Petroleum by 41.5% during the second quarter. FMR LLC now owns 5,329,641 shares of the oil and gas exploration company’s stock worth $290,732,000 after purchasing an additional 1,563,718 shares in the last quarter. BlackRock Inc. increased its position in shares of Whiting Petroleum by 224.6% in the 2nd quarter. BlackRock Inc. now owns 2,708,082 shares of the oil and gas exploration company’s stock valued at $147,726,000 after acquiring an additional 1,873,833 shares during the period. Boston Partners purchased a new stake in Whiting Petroleum in the second quarter valued at $65,492,000. Sourcerock Group LLC boosted its holdings in Whiting Petroleum by 1.5% in the first quarter. Sourcerock Group LLC now owns 1,098,022 shares of the oil and gas exploration company’s stock valued at $38,925,000 after purchasing an additional 16,294 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Whiting Petroleum by 1.2% in the second quarter. Victory Capital Management Inc. now owns 964,471 shares of the oil and gas exploration company’s stock valued at $52,612,000 after purchasing an additional 11,035 shares during the last quarter. 94.00% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on WLL shares. Truist upped their price target on shares of Whiting Petroleum from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, October 7th. Stifel Nicolaus began coverage on shares of Whiting Petroleum in a research note on Thursday, October 7th. They set a “hold” rating on the stock. KeyCorp increased their target price on shares of Whiting Petroleum from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Securities increased their target price on shares of Whiting Petroleum from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Finally, Wells Fargo & Company increased their target price on shares of Whiting Petroleum from $63.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 6th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $58.00.

WLL stock traded up $0.72 during mid-day trading on Thursday, reaching $63.59. The company’s stock had a trading volume of 15,749 shares, compared to its average volume of 674,689. The stock has a market cap of $2.49 billion and a PE ratio of -112.27. Whiting Petroleum Co. has a fifty-two week low of $13.68 and a fifty-two week high of $63.89. The company’s 50 day moving average is $51.38 and its two-hundred day moving average is $46.94.

Whiting Petroleum (NYSE:WLL) last released its quarterly earnings data on Wednesday, August 4th. The oil and gas exploration company reported $3.01 EPS for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.56. The business had revenue of $351.65 million during the quarter, compared to analyst estimates of $268.87 million. On average, research analysts forecast that Whiting Petroleum Co. will post 11.38 earnings per share for the current year.

About Whiting Petroleum

Whiting Petroleum Corp. engages in the development, production, acquisition, and exploration of oil and gas properties. It operates in the Rocky Mountains regions. The company was founded by Kenneth R. Whiting and J. Bert Ladd in January 1980 and is headquartered in Denver, CO.

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Institutional Ownership by Quarter for Whiting Petroleum (NYSE:WLL)

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