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Understanding Whiting Petroleum’s Recent Stock Performance

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Sep. 7 2016, Published 3:04 p.m. ET

Whiting’s moving averages

Whiting Petroleum’s (WLL) stock was mostly declining in the second half of 2015, but with the rally in crude oil prices (USO) since the beginning of 2016, WLL’s stock began an uptrend. Since June 2016, however, WLL’s stock has slipped into a downtrend.

On March 4, 2016, Whiting Petroleum’s stock crossed its 50-day MA (moving average) for the first time in 2016. It was able to stay above its 50-day MA levels until June 23, 2016, when it crossed under its 50-day MA.

Whiting Petroleum currently continues to trade below its 50-day MA. On September 2, 2016, WLL’s stock was trading ~8% below its 50-day MA. However, the below figure indicates that WLL’s stock will likely cross over its 50-day MA soon.

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200-day moving average

Whiting Petroleum broke above its 200-day MA on May 25, 2016, but unlike the case with its 50-day MA, it wasn’t able to sustain those levels for long and crossed under its 200-day MA on June 10, 2016. As of September 2, 2016, WLL stock was trading ~20% below its 200-day MA.

YoY (year-over-year), WLL has decreased by 60%. Peers PDC Energy (PDCE) and Continental Resources (CLR) have increased 18.3% and 65.6%, respectively, while Oasis Petroleum (OAS) declined by ~5% in the same period. These companies combined make up 2.1% of the iShares US Oil & Gas Exploration & Production ETF (IEO).

You can read more about WLL’s 2Q16 performance in the Market Realist series How Did WLL’s Stock Perform after Its 2Q16 Earnings Release? 

Keep reading this series for a thorough breakdown of Whiting Petroleum’s fundamentals.

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