Whiting Petroleum Corp (WLL): Are Hedge Funds Right About This Stock?

Judging by the fact that Whiting Petroleum Corp (NYSE:WLL) has faced a declining sentiment from hedge fund managers, it’s safe to say that there was a specific group of hedgies who were dropping their entire stakes in the third quarter. Intriguingly, Zach Schreiber’s Point State Capital sold off the biggest position of the 700 funds followed by Insider Monkey, comprising about $108.5 million in stock. Doug Silverman and Alexander Klabin’s fund, Senator Investment Group, also cut its stock, about $100.8 million worth of shares. These transactions are interesting, as total hedge fund interest fell by 11 funds in the third quarter.

Let’s now review hedge fund activity in other stocks similar to Whiting Petroleum Corp (NYSE:WLL). These stocks are Nabors Industries Ltd. (NYSE:NBR), Tallgrass Energy GP LP (NYSE:TEGP), Healthcare Trust Of America Inc (NYSE:HTA), and bluebird bio Inc (NASDAQ:BLUE). This group of stocks’ market valuations matches Whiting Petroleum Corp (NYSE:WLL)’s market valuation.

As you can see, these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $180 million. That figure was $767 million in Whiting Petroleum Corp (NYSE:WLL)’s case. bluebird bio Inc (NASDAQ:BLUE) is the most popular stock in this table. On the other hand, Tallgrass Energy GP LP (NYSE:TEGP) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks, Whiting Petroleum Corp (NYSE:WLL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.