Wellington Management revealed its 10.26% passive stake in Whiting Petroleum Corp (WLL) on November 10th. According to the amend 13G filing, the firm now controls 12.04 million shares in WLL. Wellington Management reported 8.46 million shares in its last 13F, so the firm has raised its WLL position by 46% after the second quarter. WLL recently showed a strong uptrend after the stock dropped to its 2-year low on October 4th. Now WLL is priced at $47.3, down by 20% in 2011.
Twenty seven hedge funds invested in WLL in the second quarter. Beside Wellington Management’s largest portion of shares, Lee Ainslie’s Maverick Capital doubled its position to 4.05 million shares. Robert Bishop’s Impala Asset Management increased its position by 90% and took 1.09 million shares in the stock.
Wellington Management Company is a privately owned investment firm. The firm specializes in pension and profit sharing plans. The firm manages separate client-focused equity, fixed income, and balanced portfolios, as well as a family of equity, fixed income, and balanced mutual funds for its clients. The firm mainly invests in the equities, fixed income securities, alternatives, currencies, and commodities across the global.
Per Yahoo! Finance, Whiting Petroleum Corporation “engages in the acquisition, development, exploitation, exploration, and production of oil and gas primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast, and Michigan regions of the United States. As of December 31, 2010, its estimated proved reserves were 304.9 million barrels equivalent of oil; and had interests in 9,698 gross productive wells covering approximately 1,115,000 gross developed acres. The company sells its oil and gas to end users, marketers, and other purchasers. Whiting Petroleum Corporation was founded in 1983 and is Denver, Colorado.”