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Behind Whiting Petroleum’s Short Interest Trends

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Short interest in WLL’s shares

Whiting Petroleum’s (WLL) short interest ratio (short interest as a percentage of float) on September 2, 2016, was ~17.6%. Its short interest ratio on June 30, 2016, was 14.3%. This difference means that since the end of 2Q16, Whiting’s short interest has increased by ~34%.

Whiting’s stock price was $9.26 on June 30, 2016, and $7.40 on September 2, 2016. As we can see in the graph above, Whiting’s stock price and short interest as a percentage of float have been broadly moving in opposite directions.

By comparison, peers Oasis Petroleum (OAS), Cimarex Energy (XEC), and Continental Resources (CLR) have short interest ratios of ~19.4%, 2.64%, and ~23.5%, respectively. Notably, these companies make up 1.5% of the iShares US Oil & Gas Exploration & Production ETF (IEO).

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