An issue of Oasis Petroleum Inc. (NYSE:OAS) debt fell 0.5% against its face value during trading on Friday. The debt issue has a 6.875% coupon and is set to mature on January 15, 2023. The debt is now trading at $100.50 and was trading at $99.00 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
Several research analysts recently commented on the stock. Canaccord Genuity reaffirmed a “hold” rating and issued a $9.50 price target on shares of Oasis Petroleum in a research note on Tuesday, October 18th. Piper Jaffray Cos. raised shares of Oasis Petroleum from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a research note on Wednesday, October 19th. Simmons raised shares of Oasis Petroleum from a “neutral” rating to an “overweight” rating in a research note on Wednesday, October 19th. Bank of America Corp. raised shares of Oasis Petroleum from a “neutral” rating to a “buy” rating in a research note on Monday, October 24th. Finally, Zacks Investment Research raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Oasis Petroleum presently has an average rating of “Buy” and a consensus price target of $13.16.
Oasis Petroleum Inc. (NYSE:OAS) traded down 3.95% during trading on Friday, hitting $12.63. 6,613,393 shares of the stock traded hands. Oasis Petroleum Inc. has a 12 month low of $3.40 and a 12 month high of $13.50. The stock’s market cap is $2.99 billion. The firm’s 50-day moving average is $11.53 and its 200-day moving average is $10.01.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Monday, November 7th. The company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. Oasis Petroleum had a negative net margin of 27.57% and a negative return on equity of 2.98%. The firm had revenue of $177.13 million for the quarter, compared to analyst estimates of $186.51 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, analysts forecast that Oasis Petroleum Inc. will post ($0.58) EPS for the current year.
In related news, COO Taylor L. Reid sold 25,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 1,199,341 shares in the company, valued at $11,297,792.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Advisory Corp Spo sold 2,975,700 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $11.56, for a total transaction of $34,399,092.00. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in OAS. IFP Advisors Inc raised its stake in Oasis Petroleum by 0.9% in the second quarter. IFP Advisors Inc now owns 10,800 shares of the company’s stock worth $101,000 after buying an additional 100 shares during the last quarter. CSS LLC IL purchased a new stake in Oasis Petroleum during the third quarter worth $115,000. Usca Ria LLC purchased a new stake in Oasis Petroleum during the third quarter worth $118,000. Seven Eight Capital LLC purchased a new stake in Oasis Petroleum during the first quarter worth $126,000. Finally, Advisory Services Network LLC raised its stake in Oasis Petroleum by 10.5% in the second quarter. Advisory Services Network LLC now owns 13,700 shares of the company’s stock worth $128,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 72.41% of the company’s stock.