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March 11, 2013
09:59 EDTWLLWhiting Petroleum spikes higher off early low, levels to watch
The stock has recouped most of this morning's early losses, with the move being attributed to renewed, unconfirmed, takeover speculation. At the current price of $50.28, next resistance is at $50.55 and then at $50.71. Support is at $50.
News For WLL From The Last 14 Days
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March 24, 2015
09:28 EDTWLLWhiting Petroleum should remain a takeout target, says Wells Fargo
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09:27 EDTWLLWhiting Petroleum says not pursuing significant strategic transaction
Whiting Petroleum stated in a filing related to its stock and debt offerings announced last night that the company continually evaluates its current property portfolio and sells properties when it believes that the sales price realized will provide an above average rate of return for the property or when the property no longer matches the profile of properties it desires to own. "The company is currently exploring asset sales of non-core properties. The company is not however pursuing any significant strategic transaction at this time," Whiting stated in the filing. Shares of Whiting, which have been volatile in recent week amid media reports about its pursuit of asset sales and potentially a sale of the whole company, were down 20.7% to $30.44 ahead of the opening bell.
09:22 EDTWLLOn The Fly: Pre-market Movers
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09:21 EDTWLLWhiting Petroleum trading halted ahead of secondary pricing announcement
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09:18 EDTWLLWhiting Petroleum 35M share Spot Secondary priced at $30.00
JPMorgan acted as sole book running manager for the offering.
08:41 EDTWLLWhiting Petroleum price target lowered to $37 from $40 at Susquehanna
Susquehanna lowered its price target on Whiting Petroleum to $37 from $40 to reflect dilution from its equity offering. The firm said a corporate sale appears to be off the table with the offering used to fund a cash flow shortfall. Susquehanna maintained its Neutral rating on Whiting Petroleum shares.
08:15 EDTWLLWhiting Petroleum shares should be bought, says Sterne Agee
After Whiting Petroleum issued shares this morning, causing a steep decline in the share price in pre-market trading, Sterne Agee recommends buying the shares. The firm thinks the deal could leave Whiting with $500M of cash on hand, an undrawn $3.5B credit facility, and a manageable $568M free cash flow deficit from 2Q15 through 2016. It keeps a $52 price target on the shares.
07:36 EDTWLLWhiting tumbles as stock offering dampens takeover speculation
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07:24 EDTWLLWhiting Petroleum takeout less likely following stock offering, says UBS
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07:13 EDTWLLWhiting Petroleum volatility elevated into offering of 35M shares
Whiting Petroleum April call option implied volatility is at 77, May is at 74; compared to its 26-week average of 49 according to Track Data, suggesting large price movement into announces offering of 35M shares of common stock.
March 23, 2015
19:13 EDTWLLOn The Fly: After Hours Movers
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17:23 EDTWLLWhiting Petroleum announces offering of 35M shares of common stock
Whiting Petroleum announced that it has commenced a registered public offering of 35,000,000 shares of its common stock. Whiting expects to grant the underwriter a 30-day option to purchase up to an additional 5,250,000 shares of its common stock. Whiting also announced by separate press release that it has commenced private unregistered offerings to eligible purchasers of $1B aggregate principal amount of convertible senior notes due 2020 and $750M aggregate principal amount of senior notes due 2023. Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy the convertible senior notes or the senior notes. Whiting expects to use the net proceeds from the offerings to repay all or a portion of the amount outstanding under its credit agreement and any remainder for general corporate purposes.
March 20, 2015
13:23 EDTWLLWhiting Petroleum in 'soft talks', asset sales considered, says dealReporter
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09:04 EDTWLLWhiting Petroleum up 2% after Bloomberg says conference cancelation confirmed
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09:03 EDTWLLWhiting Petroleum not on schedule for Howard Weil conference, Bloomberg says
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March 19, 2015
05:56 EDTWLLStocks with implied volatility movement; XLY WLL
Stocks with implied volatility movement; Consumer Discretionary Sector SPDR (XLY) 17, Whiting Petroleum (WLL) 91 according to iVolatility.
March 18, 2015
13:13 EDTWLLAnalyst recommends buying top E&P names before crude finds its bottom
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10:55 EDTWLLWhiting Petroleum spikes higher off early low, levels to watch
Shares have turned positive on the day in the last ten minutes, spiking higher to $37.83. At that price initial resistance is at the high of the day at $38.13 and then at $39.29. The $40 level remains the key test of resistance and would be the line at which a bullish breakout could take place out of the months-long range. Support is at $37.62, the prior day close.
10:47 EDTWLLRumor: Whiting Petroleum goes positive on renewed takeover chatter
07:21 EDTWLLE&P stocks should be bought on weakness, says Stifel
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