Short interest in Whiting Petroleum stock
On April 25, the short interest ratio (short interest as a percentage of float) for Whiting Petroleum (WLL) stock was ~21.0%. In April 2017, the short interest ratio for Whiting Petroleum stock was ~3.0%.
As we can observe in the graph above, short interest in WLL spiked in 2017, along with its stock. Following Whiting Petroleum’s one-for-four reverse stock split decision, which it had finalized in November 2017, short interest in WLL stock rose sharply that month and has remained high.
WLL’s stock price has also displayed an uptrend since late 2017, boosted by upbeat 4Q17 earnings and strong crude oil prices (DBO)(UCO). Please read Part 1 of this series to learn about WLL’s recent stock performance. WLL’s stock price on April 25 was $40.29, compared to $33.16 in the previous year.
WLL’s 1Q18 earnings report is expected to be a key stock-mover for Whiting Petroleum in the coming weeks. Please read Whiting Petroleum’s 1Q18 Earnings: What to Expect for more information.
Implied volatility trends
Current implied volatility in Whiting Petroleum (WLL) is ~58.0%. In comparison, peers Continental Resources (CLR) and Oasis Petroleum (OAS) have implied volatilities of ~39.7% and ~56.9%, respectively. In contrast, the broader energy sector, represented by the Energy Select Sector SPDR ETF (XLE), has an implied volatility of ~20.4%.
Forecasting WLL’s stock price range
Based on Whiting Petroleum’s implied volatility of ~58.1% and assuming a normal distribution of stock prices with a standard deviation of 1.0 (or a probability of 68.0%), Whiting Petroleum stock is expected to close between $37.05 and ~$43.53 in the next seven days.
Check out the data we have added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend info. Take a look.