Oasis Petroleum Inc. (NYSE:OAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $15.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 14.07% from the stock’s previous close.
According to Zacks, “Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas resources. The Company is currently focused on exploiting resource potential from the Bakken and Three Forks formations, which are present across a substantial majority of its acreage. Oasis Petroleum Inc. is based in Houston, Texas. “
Several other brokerages have also issued reports on OAS. Goldman Sachs Group Inc. lowered shares of Oasis Petroleum from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $8.75 to $8.50 in a research note on Tuesday, October 18th. Citigroup Inc. upgraded shares of Oasis Petroleum to a “strong-buy” rating and increased their price target for the stock from $14.00 to $17.00 in a research note on Friday, August 5th. Raymond James Financial Inc. upgraded shares of Oasis Petroleum from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $14.00 to $17.00 in a research note on Friday, August 5th. Nomura reiterated a “hold” rating and issued a $17.00 price target on shares of Oasis Petroleum in a research note on Monday, September 26th. Finally, Seaport Global Securities upgraded shares of Oasis Petroleum from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $10.00 to $12.00 in a research note on Tuesday, August 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. Oasis Petroleum has a consensus rating of “Buy” and a consensus target price of $13.16.
Oasis Petroleum (NYSE:OAS) opened at 13.15 on Friday. The stock’s market capitalization is $3.11 billion. Oasis Petroleum has a 1-year low of $3.40 and a 1-year high of $13.50. The firm has a 50-day moving average of $11.53 and a 200-day moving average of $10.01.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The company earned $177.13 million during the quarter, compared to analyst estimates of $186.51 million. Oasis Petroleum had a negative net margin of 27.57% and a negative return on equity of 2.98%. Oasis Petroleum’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. Equities analysts expect that Oasis Petroleum will post ($0.58) EPS for the current fiscal year.
In other Oasis Petroleum news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $11.56, for a total transaction of $34,399,092.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Taylor L. Reid sold 25,000 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $9.42, for a total transaction of $235,500.00. Following the transaction, the chief operating officer now owns 1,199,341 shares in the company, valued at approximately $11,297,792.22. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of OAS. JPMorgan Chase & Co. boosted its position in Oasis Petroleum by 49.0% in the first quarter. JPMorgan Chase & Co. now owns 151,501 shares of the company’s stock worth $1,103,000 after buying an additional 49,832 shares during the period. Renaissance Technologies LLC purchased a new position in Oasis Petroleum during the first quarter worth $18,652,000. Panagora Asset Management Inc. purchased a new position in Oasis Petroleum during the first quarter worth $3,862,000. Seven Eight Capital LLC purchased a new position in Oasis Petroleum during the first quarter worth $126,000. Finally, BNP Paribas Arbitrage SA boosted its position in Oasis Petroleum by 949.4% in the second quarter. BNP Paribas Arbitrage SA now owns 15,993 shares of the company’s stock worth $149,000 after buying an additional 14,469 shares during the period. Institutional investors and hedge funds own 72.41% of the company’s stock.
About Oasis Petroleum
Oasis Petroleum Inc is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its segments include Exploration and Production, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.