Lantheus Holdings, Aurinia, Whiting, Oasis, and More: What is Going on With These Five Falling Stocks?

Whiting Petroleum Corp (NYSE:WLL), Oasis Petroleum Inc. (NYSE:OAS), and SM Energy Co (NYSE:SM) were each down more than 7% at one point this morning due to the decline in crude prices (WTI futures are 2% in the red as of 11 AM). Although OPEC agreed to cut production for six months in late November of last year and crude prices haven’t breached the pivotal $60 per barrel mark (an area investors thought would trigger shale gains), shale is just too competitive. Due to cost cutting and productivity enhancements, some bears expect shale growth to drive U.S. crude production to record highs next year if oil prices remain in the mid-to-high $50’s. At some point, OPEC will need to decide whether it wants to continue giving away market share to shale producers or to let market forces do their work. If market forces do their work, crude prices could fall further before finding support. On the flip side of the equation, Saudi Arabia still has strong incentive to ensure steady oil prices for the upcoming Saudi Aramco IPO next year.

Either way, today’s upcoming API report and tomorrow’s EIA report will be among the most highly anticipated data releases this year in the energy space. According to our database of 742 elite funds, 38 and 32 were long Oasis Petroleum Inc. (NYSE:OAS) and SM Energy Co (NYSE:SM) in the fourth quarter.

Meanwhile, 34 elite funds owned shares of Whiting Petroleum Corp (NYSE:WLL) at the end of the fourth quarter, down 1 funds from the previous quarter.

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