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Whiting Petroleum: What to Expect in 1Q17 Earnings

PART:
1 2 3 4 5
Part 3
Whiting Petroleum: What to Expect in 1Q17 Earnings PART 3 OF 5

How Whiting Petroleum Stock Has Performed

Whiting Petroleum stock

Whiting Petroleum (WLL) stock has mostly been on a downtrend since the beginning of 2017, especially since March 2017 when crude oil prices began falling notably.

Concerns started intensifying about a global oil supply gut, which could offset OPEC’s (Organization of the Petroleum Exporting Countries) production cuts. That pressured crude oil prices.

How Whiting Petroleum Stock Has Performed

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Since the beginning of the year, Whiting Petroleum stock has fallen ~31.0%. Crude oil prices (USO) rose 0.15% during the same period. Crude oil prices have been showing signs of recovery lately, but WLL stock continues to remain low.

The broader markets

Compared to oil prices and the energy sector (XLE), the broader markets have performed well since January 2017. The SPDR S&P 500 ETF (SPY) (SPX-INDEX) rose ~3.8%. The Energy Select SPDR ETF (XLE) fell ~10.0% during the same period. The energy sector makes up ~7.0% of SPY.

As we’ve already seen, the bearish trend of Whiting Petroleum stock could also be due to its planned ~96.0% rise in its 2017 capex (capital expenditure) compared to 2016 levels. The company’s production expectation hasn’t risen as much as the increase in its capex. Read Part 2 for more on this.

You can also read What’s Driving Whiting Petroleum’s Downtrend? to learn more about Whiting Petroleum’s stock performance trends.

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