The stock of Whiting Petroleum Corporation (NYSE:WLL) is now priced at $0.8 and the shares are -0.04 points down or -4.81% lower compared to its previous closing price of $0.84. The stock had 5.743 million contracts set over the past session. WLL shares’ daily volume is compared to its average trading volume at 11.783 million shares. However, it has a float of 90.98 million and although its performance was -12.14% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the WLL share price recently placing at $0.75 to $0.8117. However, some brokerage firms have priced the stock below the average, including one that has called $0.2.
The shorts are running away from the Whiting Petroleum Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the WLL shares have declined. Short interest in the stock represents just 39.1% of its float, but the volume has dropped by 0.
In the last trading session, Whiting Petroleum Corporation (NYSE:WLL) dropped by -$0.1105 over the week and gained $0.0295 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $11.85. The stock recorded its established 52-week high on 09/16/19.
Since 04/02/20, the stock has traded to a low of $0.25 at 219.8%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 4.21. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Whiting Petroleum Corporation’s two-week RSI is 36.68. This suggests that the stock is neutral at the moment and that WLL shares’ price movement remains stable. The stochastic readings are equally revealing at 14.34% meaning the WLL share price is currently in overbought territory.
The technical chart shows that the WLL stock will likely settle at between $0.8241 and $0.8488 per share. However, if the stock dips below $0.7624, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.7254.
Currently, the stock is trading in the red of MACD, with a reading of -0.0485. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Stifel cut their recommendation for WLL from Hold to Sell in March 31 review. JP Morgan analysts downgraded their recommendation of the stock from Neutral to Underweight in a flash note released to investors on March 25. Barclays seeing the stock struggling downgraded it from Equal Weight to Underweight on March 24.
The average rating for the WLL equity is 3.63 and is currently gathering a bearish momentum. Of 7 analysts tracking Whiting Petroleum Corporation polled by Reuters, 3 rated WLL as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 4 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Whiting Petroleum Corporation (NYSE:WLL) will decrease by about -99.82%, which will see them reach $165 million. The company’s full-year revenues are, however, expected to diminish by about -55.11%, down from $1570 million to $705 million. WLL’s expected adjusted earnings should surge almost 142.11% to end up at -$0.92 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 360.47% to record -$3.96/share.