As Cummins (CMI) Stock Value Declined, Welch & Forbes Lifted Stake by $1.52 Million; Texan Capital Management Cut Its Whiting Pete New (WLL) Holding as Market Valuation Rose

April 17, 2018 - By Winifred Garcia

Cummins Inc. (NYSE:CMI) Logo

Texan Capital Management decreased its stake in Whiting Pete Corp New (WLL) by 75.53% based on its latest 2017Q4 regulatory filing with the SEC. Texan Capital Management sold 23,715 shares as the company’s stock rose 30.95% while stock markets declined. The institutional investor held 7,685 shares of the oil & gas production company at the end of 2017Q4, valued at $203,000, down from 31,400 at the end of the previous reported quarter. Texan Capital Management who had been investing in Whiting Pete Corp New for a number of months, seems to be less bullish one the $3.48 billion market cap company. The stock decreased 1.09% or $0.42 during the last trading session, reaching $38.21. About 2.93M shares traded. Whiting Petroleum Corporation (NYSE:WLL) has declined 0.96% since April 17, 2017 and is downtrending. It has underperformed by 12.51% the S&P500.

Welch & Forbes Llc increased its stake in Cummins Inc (CMI) by 11.32% based on its latest 2017Q4 regulatory filing with the SEC. Welch & Forbes Llc bought 8,625 shares as the company’s stock declined 9.68% with the market. The institutional investor held 84,843 shares of the industrial machinery and components company at the end of 2017Q4, valued at $14.99M, up from 76,218 at the end of the previous reported quarter. Welch & Forbes Llc who had been investing in Cummins Inc for a number of months, seems to be bullish on the $27.43B market cap company. The stock increased 2.64% or $4.28 during the last trading session, reaching $166.67. About 1.77M shares traded or 3.65% up from the average. Cummins Inc. (NYSE:CMI) has risen 6.07% since April 17, 2017 and is uptrending. It has underperformed by 5.48% the S&P500.

Investors sentiment increased to 1.27 in Q4 2017. Its up 0.17, from 1.1 in 2017Q3. It improved, as 47 investors sold CMI shares while 251 reduced holdings. 108 funds opened positions while 271 raised stakes. 131.82 million shares or 0.31% less from 132.23 million shares in 2017Q3 were reported. Castleark Mngmt Lc holds 300 shares. Macquarie Grp Limited holds 0.03% or 53,916 shares in its portfolio. 1,400 are held by Cordasco Fincl Network. Philadelphia Tru owns 1,470 shares. Gateway Advisers Limited Liability Co owns 151,106 shares or 0.23% of their US portfolio. Northern has 0.1% invested in Cummins Inc. (NYSE:CMI). Spinnaker holds 2,470 shares or 0.05% of its portfolio. Peapack Gladstone holds 16,088 shares. Fred Alger Management reported 0% of its portfolio in Cummins Inc. (NYSE:CMI). Sigma Planning Corp accumulated 4,052 shares. Omers Administration Corp holds 24,700 shares. North Star Inv invested 0.07% of its portfolio in Cummins Inc. (NYSE:CMI). Brown Advisory Incorporated accumulated 8,673 shares. First State Bank reported 8,750 shares. Moneta Grp Inc Advsrs Ltd Liability Company reported 0% in Cummins Inc. (NYSE:CMI).

Welch & Forbes Llc, which manages about $3.95B and $3.75B US Long portfolio, decreased its stake in Procter And Gamble Co (NYSE:PG) by 12,910 shares to 915,943 shares, valued at $84.16 million in 2017Q4, according to the filing. It also reduced its holding in Qualcomm Inc (NASDAQ:QCOM) by 15,024 shares in the quarter, leaving it with 179,375 shares, and cut its stake in Ansys Inc (NASDAQ:ANSS).

Among 30 analysts covering Cummins (NYSE:CMI), 10 have Buy rating, 1 Sell and 19 Hold. Therefore 33% are positive. Cummins had 105 analyst reports since July 22, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Friday, October 13 by Citigroup. Stifel Nicolaus maintained the shares of CMI in report on Monday, February 5 with “Hold” rating. The firm has “Sell” rating given on Wednesday, August 2 by Deutsche Bank. The stock of Cummins Inc. (NYSE:CMI) earned “Outperform” rating by CLSA on Thursday, December 1. Piper Jaffray maintained it with “Hold” rating and $175.0 target in Friday, December 8 report. The stock has “Hold” rating by Deutsche Bank on Thursday, December 17. Wells Fargo maintained Cummins Inc. (NYSE:CMI) on Friday, October 6 with “Market Perform” rating. Standpoint Research upgraded the stock to “Buy” rating in Monday, August 24 report. Goldman Sachs downgraded the stock to “Neutral” rating in Friday, December 1 report. The rating was maintained by RBC Capital Markets with “Hold” on Monday, June 5.

Since March 1, 2018, it had 0 insider purchases, and 1 insider sale for $29,412 activity.

Analysts await Whiting Petroleum Corporation (NYSE:WLL) to report earnings on April, 25. They expect $0.18 earnings per share, up 130.00% or $0.78 from last year’s $-0.6 per share. WLL’s profit will be $16.38M for 53.07 P/E if the $0.18 EPS becomes a reality. After $-0.17 actual earnings per share reported by Whiting Petroleum Corporation for the previous quarter, Wall Street now forecasts -205.88% EPS growth.

Among 43 analysts covering Whiting Petroleum Corporation (NYSE:WLL), 15 have Buy rating, 3 Sell and 25 Hold. Therefore 35% are positive. Whiting Petroleum Corporation had 154 analyst reports since July 21, 2015 according to SRatingsIntel. Barclays Capital maintained Whiting Petroleum Corporation (NYSE:WLL) rating on Friday, April 21. Barclays Capital has “Hold” rating and $10 target. As per Friday, September 11, the company rating was upgraded by Goldman Sachs. Piper Jaffray maintained the stock with “Hold” rating in Tuesday, January 9 report. Seaport Global downgraded the stock to “Neutral” rating in Thursday, February 25 report. On Wednesday, January 13 the stock rating was downgraded by UBS to “Neutral”. As per Wednesday, March 7, the company rating was upgraded by Seaport Global. The firm has “Hold” rating by Wunderlich given on Friday, April 29. Citigroup maintained Whiting Petroleum Corporation (NYSE:WLL) on Thursday, August 4 with “Buy” rating. The firm has “Buy” rating given on Wednesday, September 27 by Cowen & Co. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, December 12.

Investors sentiment decreased to 0 in 2017 Q4. Its down 0.94, from 0.94 in 2017Q3. It is negative, as 199 investors sold WLL shares while 3 reduced holdings. 0 funds opened positions while 1 raised stakes. 5.49 million shares or 98.22% less from 308.92 million shares in 2017Q3 were reported. Macquarie Grp Inc Ltd has 0% invested in Whiting Petroleum Corporation (NYSE:WLL) for 3,725 shares. Cypress Cap Management Ltd (Wy) stated it has 22,100 shares. Texan Cap Mgmt holds 7,685 shares or 0.13% of its portfolio. Fine LP accumulated 18.21% or 5.46 million shares.

Cummins Inc. (NYSE:CMI) Institutional Positions Chart

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By1 Winifred Garcia

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