The story of this stock......management gets rich and shareholders get promises of future greatness. Whiting hasnt updated a single corporate initiative thus far in 2014......Smackover, Michigan shale, Redtail, etc. At $55/share you would think acquisition offers would come flying in if the proved reserves/drilling inventory were believeable......guess none of the majors wants to jump on this juicy target.
I agree, WLL has been trading at a discount because it is seen as a volatile player. It is getting ready to get rid of that status due to new technologies which will mean lower margins. Price targets amaze me though. Most have it close to 80$.
I will buy in the 40's again, hopefully the low 40's, if WLL punches through its 200dma on some good volume and Fridays job report is terrible WLL will back in the 40's in no time. Remember the fed has specifically told everyone it is tapering regardless of market slumps, i.e. it no longer has the markets back no matter what the jobs report is. A weak report and this market will tank 5-10% more and WLL will go with it.
Agreed...stock price fails miserably to live up to assets and expectations....this is a dog for a reason...I just cannot see why this isn't 80.00....think what will happen to this dog when oil price goes back to 70.00??? Scary to even think about it......