Billionaire Steve Cohen‘s Point72 Asset Management has hiked its stake in Whiting Petroleum Corp (NYSE:WLL) according to a recently amended filing with the Securities and Exchange Commission. The fund’s holding of the stock stood at 2.96 million shares at the end of the third quarter, which has now climbed to 5.33 million shares or 1.9% of the company’s outstanding common stock.
Whiting Petroleum, as its name suggests, is an oil and gas company. Over the past 12 months, the company’s shares have gained 22.62%. In its financial report for the third quarter of 2016, Whiting Petroleum reported a loss per share of $0.47, and revenue of $129.2 million, compared to a loss per share of $0.17 and revenue of $508 million for the same period of the previous year.
Earlier this month, R.F. Lafferty initiated coverage on the stock with a ‘Buy‘ rating and a price target of $23, while Wells Fargo downgraded its rating on it ‘Market Perform’ from ‘Outperform’. Lastly, Wunderlich raised its price target on WLL to $13 from $9, with a ‘Hold’ rating on it.
At the end of September, 35 investors from our database held long positions in Whiting Petroleum Corp (NYSE:WLL), down by 6 from the end of the second quarter. The most bullish hedge fund was Debra Fine’s Fine Capital Partners, with a position worth close to $120.3 million, amounting to 12.3% of its total 13F portfolio. On Fine Capital Partners’ heels was Israel Englander’s Millennium Management, which owned a $90 million position. Other investors with similar optimism counted Doug Silverman and Alexander Klabin’s Senator Investment Group, Ken Griffin’s Citadel Investment Group, and David Costen Haley’s HBK Investments.
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Among investors who lost interest in Whiting Petroleum Corp (NYSE:WLL) and cut off their positions during the third quarter were Dan Loeb’s Third Point, which got rid of the largest investment of all the investors tracked by Insider Monkey, comprising close to $75.9 million in stock, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, which cut about $25.8 million worth of shares.
You can access the original SEC filing by clicking here.
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Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Point7 | 0 | 5,325,872 | 0 | 5,325,872 | 5,325,872 | 1.9% |
| Point7 | 0 | 5,325,872 | 0 | 5,325,872 | 5,325,872 | 1.9% |
| Cubist Systematic Strategies | 0 | 2,629 | 0 | 2,629 | 2,629 | Less than 0.1% |
| Steven A. Cohen | 0 | 5,328,501 | 0 | 5,328,501 | 5,328,501 | 1.9% |
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Page 1 of 9 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
(Amendment No. )*
WHITING PETROLEUM CORPORATION
(Name of Issuer)
Common Stock, Par Value $0.001 Per Share
(Title of Class of Securities)
966387102
(CUSIP Number)
October 26, 2016
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
| [ ] | Rule 13d-1(b) | ||
| [X] | Rule 13d-1(c) | ||
| [ ] | Rule 13d-1(d) |
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Page 2 of 9 – SEC Filing
| CUSIP No. 966387102 | 13G | Page 2 of 9 Pages |
| 1 | NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Point72 Asset Management, L.P. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) ☐ (b) ☒ | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 0 | ||
| 6 | SHARED VOTING POWER 5,325,872 (a) (see Item 4) | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 5,325,872 (a) (see Item 4) | |||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,325,872 (a) (see Item 4) | |||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.9% (a) (see Item 4) | |||
| 12 | TYPE OF REPORTING PERSON* PN | |||
*SEE INSTRUCTION BEFORE FILLING OUT
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Page 3 of 9 – SEC Filing
| CUSIP No. 966387102 | 13G | Page 3 of 9 Pages |
| 1 | NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Point72 Capital Advisors, Inc. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) ☐ (b) ☒ | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 0 | ||
| 6 | SHARED VOTING POWER 5,325,872 (a) (see Item 4) | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 5,325,872 (a) (see Item 4) | |||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,325,872 (a) (see Item 4) | |||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.9% (a) (see Item 4) | |||
| 12 | TYPE OF REPORTING PERSON* CO | |||
*SEE INSTRUCTION BEFORE FILLING OUT
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Page 4 of 9 – SEC Filing
| CUSIP No. 966387102 | 13G | Page 4 of 9 Pages |
| 1 | NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Cubist Systematic Strategies, LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) ☐ (b) ☒ | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 0 | ||
| 6 | SHARED VOTING POWER 2,629 (see Item 4) | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 2,629 (see Item 4) | |||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,629 (see Item 4) | |||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% (see Item 4) | |||
| 12 | TYPE OF REPORTING PERSON* OO | |||
*SEE INSTRUCTION BEFORE FILLING OUT
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Page 5 of 9 – SEC Filing
| CUSIP No. 966387102 | 13G | Page 5 of 9 Pages |
| 1 | NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Steven A. Cohen | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) ☐ (b) ☒ | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION United States | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 0 | ||
| 6 | SHARED VOTING POWER 5,328,501 (a) (see Item 4) | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 5,328,501 (a) (see Item 4) | |||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,328,501 (a) (see Item 4) | |||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.9% (a) (see Item 4) | |||
| 12 | TYPE OF REPORTING PERSON* IN | |||
*SEE INSTRUCTION BEFORE FILLING OUT
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Page 6 of 9 – SEC Filing
Explanatory Note:
Based upon the Shares of Common Stock issued and outstanding as of October 14, 2016, as reported on the Issuer’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission by the Issuer for the quarterly period ended September 30, 2016, each of Point72 Asset Management, L.P., Point72 Capital Advisors, Inc. and Steven A. Cohen beneficially owned, as of October 26, 2016, 5.7% of such Common Stock, and Cubist Systematic Strategies, LLC beneficially owned, as of October 26, 2016, less than 0.1% of such Common Stock.
| Item 1(a) | Name of Issuer: |
| Whiting Petroleum Corporation | |
| Item 1(b) | Address of Issuer’s Principal Executive Offices: |
| 1700 Broadway, Suite 2300, Denver, Colorado 80290 | |
| Item 2(a) | Name of Person Filing: |
| This statement is filed by: (i) Point72 Asset Management, L.P. (“Point72 Asset Management”) with respect to shares of Common Stock, par value $0.001 per share (“Shares”), of the Issuer held by certain investment funds it manages; (ii) Point72 Capital Advisors, Inc. (“Point72 Capital Advisors Inc.”) with respect to Shares held by certain investment funds managed by Point72 Asset Management; (iii) Cubist Systematic Strategies, LLC (“Cubist Systematic Strategies”) with respect to Shares held by certain investment funds it manages; and (iv) Steven A. Cohen with respect to Shares beneficially owned by Point72 Asset Management, Point72 Capital Advisors Inc., and Cubist Systematic Strategies. | |
| Point72 Asset Management, Point72 Capital Advisors Inc., Cubist Systematic Strategies and Steven A. Cohen have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Act. | |
| Item 2(b) | Address or Principal Business Office: |
| The address of the principal business office of (i) Point72 Asset Management, Point72 Capital Advisors Inc. and Mr. Cohen is 72 Cummings Point Road, Stamford, CT 06902; and (ii) Cubist Systematic Strategies is 330 Madison Avenue, New York, NY 10173. | |
| Item 2(c) | Citizenship: |
| Point72 Asset Management is a Delaware limited partnership. Point72 Capital Advisors Inc. is a Delaware corporation. Cubist Systematic Strategies is a Delaware limited liability company. Mr. Cohen is a United States citizen. | |
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Page 7 of 9 – SEC Filing
| Item 2(d) | Title of Class of Securities: |
| Common Stock, par value $0.001 per share | |
| Item 2(e) | CUSIP Number: |
| 966387102 | |
| Item 3 | Not Applicable |
| Item 4 | Ownership: |
| The percentages used herein are calculated based upon the Shares of Common Stock issued and outstanding as of October 14, 2016, as reported on the Issuer’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission by the Issuer for the quarterly period ended September 30, 2016. | |
| As of the close of business on December 22, 2016: | |
| 1. Point72 Asset Management, L.P. | |
| (a) Amount beneficially owned: 5,325,872 (a) | |
| (b) Percent of class: 1.9% (a) | |
| (c)(i) Sole power to vote or direct the vote: -0- | |
| (ii) Shared power to vote or direct the vote: 5,325,872 (a) | |
| (iii) Sole power to dispose or direct the disposition: -0- | |
| (iv) Shared power to dispose or direct the disposition: 5,325,872 (a) | |
| 2. Point72 Capital Advisors, Inc. | |
| (a) Amount beneficially owned: 5,325,872 (a) | |
| (b) Percent of class: 1.9% (a) | |
| (c)(i) Sole power to vote or direct the vote: -0- | |
| (ii) Shared power to vote or direct the vote: 5,325,872 (a) | |
| (iii) Sole power to dispose or direct the disposition: -0- | |
| (iv) Shared power to dispose or direct the disposition: 5,325,872 (a) | |
| 3. Cubist Systematic Strategies, LLC | |
| (a) Amount beneficially owned: 2,629 | |
| (b) Percent of class: less than 0.1% | |
| (c)(i) Sole power to vote or direct the vote: -0- | |
| (ii) Shared power to vote or direct the vote: 2,629 | |
| (iii) Sole power to dispose or direct the disposition: -0- | |
| (iv) Shared power to dispose or direct the disposition: 2,629 | |
| 4. Steven A. Cohen | |
| (a) Amount beneficially owned: 5,328,501 (a) | |
| (b) Percent of class: 1.9% (a) | |
| (c)(i) Sole power to vote or direct the vote: -0- | |
| (ii) Shared power to vote or direct the vote: 5,328,501 (a) | |
| (iii) Sole power to dispose or direct the disposition: -0- | |
| (iv) Shared power to dispose or direct the disposition: 5,328,501 (a) |
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Page 8 of 9 – SEC Filing
| (a) Includes 700,000 Shares subject to call options held by an investment fund managed by Point72 Asset Management. | |
| Point72 Asset Management, Point72 Capital Advisors Inc., Cubist Systematic Strategies and Mr. Cohen own directly no Shares. Pursuant to an investment management agreement, Point72 Asset Management maintains investment and voting power with respect to the securities held by certain investment funds it manages. Point72 Capital Advisors Inc. is the general partner of Point72 Asset Management. Pursuant to an investment management agreement, Cubist Systematic Strategies maintains investment and voting power with respect to the securities held by certain investment funds it manages. Mr. Cohen controls each of Point72 Capital Advisors Inc. and Cubist Systematic Strategies. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of (i) Point72 Asset Management, Point72 Capital Advisors Inc. and Mr. Cohen may be deemed to beneficially own 5,325,872 (a) Shares (constituting approximately 1.9% (a) of the Shares outstanding); and (ii) Cubist Systematic Strategies and Mr. Cohen may be deemed to beneficially own 2,629 Shares (constituting less than 0.1% of the Shares outstanding). Each of Point72 Asset Management, Point72 Capital Advisors Inc., Cubist Systematic Strategies and Mr. Cohen disclaims beneficial ownership of any of the securities covered by this statement. | |
| Item 5 | Ownership of Five Percent or Less of a Class: |
| If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following. ☒ | |
| Item 6 | Ownership of More than Five Percent on Behalf of Another Person: |
| Not Applicable | |
| Item 7 | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: |
| Not Applicable | |
| Item 8 | Identification and Classification of Members of the Group: |
| Not Applicable | |
| Item 9 | Notice of Dissolution of Group: |
| Not Applicable | |
| Item 10 | Certification: |
By signing below the signatory certifies that, to the best of his knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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Page 9 of 9 – SEC Filing
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: December 23, 2016
POINT72 ASSET MANAGEMENT, L.P.
By: /s/ Kevin J. O’Connor
Name: Kevin J. O’Connor
Title: Authorized Person
POINT72 CAPITAL ADVISORS, INC.
By: /s/ Kevin J. O’Connor
Name: Kevin J. O’Connor
Title: Authorized Person
CUBIST SYSTEMATIC STRATEGIES, LLC
By: /s/ Kevin J. O’Connor
Name: Kevin J. O’Connor
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Kevin J. O’Connor
Name: Kevin J. O’Connor
Title: Authorized Person
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