Mackay Shields LLC Sells 163,825 Shares of Whiting Petroleum Co. (NYSE:WLL)

Mackay Shields LLC cut its stake in Whiting Petroleum Co. (NYSE:WLL) by 26.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 456,540 shares of the oil and gas exploration company’s stock after selling 163,825 shares during the quarter. Mackay Shields LLC owned 1.17% of Whiting Petroleum worth $24,904,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Whiting Petroleum by 97.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 768 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 379 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Whiting Petroleum during the first quarter worth about $35,000. Advisor Group Holdings Inc. increased its holdings in Whiting Petroleum by 14.4% in the second quarter. Advisor Group Holdings Inc. now owns 2,032 shares of the oil and gas exploration company’s stock worth $111,000 after purchasing an additional 256 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Whiting Petroleum by 149.5% during the second quarter. Meeder Asset Management Inc. now owns 2,600 shares of the oil and gas exploration company’s stock valued at $142,000 after acquiring an additional 1,558 shares in the last quarter. Finally, Shell Asset Management Co. bought a new stake in shares of Whiting Petroleum during the second quarter valued at approximately $167,000. 94.00% of the stock is owned by institutional investors.

WLL has been the topic of several analyst reports. Truist Securities lifted their target price on Whiting Petroleum from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, October 7th. Stifel Nicolaus assumed coverage on Whiting Petroleum in a research note on Thursday, October 7th. They set a “hold” rating on the stock. Truist upped their target price on Whiting Petroleum from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Wells Fargo & Company upped their target price on Whiting Petroleum from $63.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 6th. Finally, KeyCorp upped their target price on Whiting Petroleum from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $58.00.

WLL stock traded up $0.72 on Thursday, reaching $63.59. 15,749 shares of the company traded hands, compared to its average volume of 674,689. Whiting Petroleum Co. has a one year low of $13.68 and a one year high of $63.89. The company has a market cap of $2.49 billion and a P/E ratio of -112.27. The firm has a fifty day simple moving average of $51.38 and a 200-day simple moving average of $46.94.

Whiting Petroleum (NYSE:WLL) last released its quarterly earnings results on Wednesday, August 4th. The oil and gas exploration company reported $3.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.45 by $0.56. The firm had revenue of $351.65 million during the quarter, compared to analysts’ expectations of $268.87 million. As a group, sell-side analysts forecast that Whiting Petroleum Co. will post 11.38 earnings per share for the current fiscal year.

Whiting Petroleum Company Profile

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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