Recent insider trends for Whiting Petroleum Corporation (NYSE:WLL) have caught the attention of investors. Analysts monitor insider data to understand the sentiment of a company’s largest and most important shareholders. WLL’s insider trading patterns have some implications for where the stock might be headed.
Institutions own 87.52% of Whiting Petroleum Corporation (WLL)’s shares. The total value of these holdings, in millions, is $2,053. Among active positions in the latest quarter, 156 holders increased their positions by a total of 16.01 million shares, 146 holders decreased the positions by a total of 13.64 million shares, and 40 holders held their positions. This works out to a net increase in ownership of 2.37 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 34 holders initiated new positions by a total of 2.48 million shares and 66 holders exited their positions by a total of 4.31 million shares. This nets out to a decrease of 1.83 million shares and is another bearish sign for WLL.
Insider ownership increased by a total of 0 shares, which suggests that WLL’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.
Analysts often look at short interest, or the number of shares currently being shorted by investors, to aid in their outlook for a particular stock. Whiting Petroleum Corporation (NYSE:WLL)’s short interest is 67.18 million shares, or 18.90% of the float. This represents a decrease of -1% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.
Given what the insider ownership patterns are saying, it makes sense to consider the technicals to see if these pieces of information reach the same conclusion about the outlook for WLL. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that WLL is a Weak buy, which implies that WLL is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Whiting Petroleum Corporation (NYSE:WLL) is undervalued.