Oasis Petroleum Inc. (NYSE:OAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $15.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 14.07% from the stock’s current price.
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. “
A number of other equities analysts have also recently commented on the company. Citigroup Inc. raised Oasis Petroleum to a “strong-buy” rating and lifted their price target for the stock from $14.00 to $17.00 in a research note on Friday, August 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $13.00 price target on shares of Oasis Petroleum in a research note on Tuesday, November 8th. Jefferies Group reaffirmed a “buy” rating and issued a $13.00 price target on shares of Oasis Petroleum in a research note on Thursday, August 4th. Williams Capital lifted their price target on Oasis Petroleum from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, October 19th. Finally, Piper Jaffray Cos. raised 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Oasis Petroleum presently has an average rating of “Buy” and an average target price of $13.16.
Shares of Oasis Petroleum (NYSE:OAS) traded down 2.81% during trading on Friday, hitting $12.78. The company had a trading volume of 3,184,540 shares. The firm’s market capitalization is $3.02 billion. The company’s 50 day moving average is $11.53 and its 200 day moving average is $10.01. Oasis Petroleum has a 1-year low of $3.40 and a 1-year high of $13.50.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings data on Monday, November 7th. The company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.02. The company had revenue of $177.13 million for the quarter, compared to analysts’ expectations of $186.51 million. Oasis Petroleum had a negative return on equity of 2.98% and a negative net margin of 27.57%. Oasis Petroleum’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. Analysts anticipate that Oasis Petroleum will post ($0.58) earnings per share for the current fiscal year.
In other Oasis Petroleum news, COO Taylor L. Reid sold 25,000 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $9.42, for a total value of $235,500.00. Following the completion of the sale, the chief operating officer now owns 1,199,341 shares in the company, valued at $11,297,792.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Advisory Corp Spo sold 2,975,700 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $11.56, for a total value of $34,399,092.00. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of 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 bought a new stake in shares of Oasis Petroleum during the third quarter worth approximately $115,000. Usca Ria LLC bought a new stake in shares of Oasis Petroleum during the third quarter worth approximately $118,000. Seven Eight Capital LLC bought a new stake in shares of Oasis Petroleum during the first quarter worth approximately $126,000. Finally, Advisory Services Network LLC boosted its stake in shares of 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. Institutional investors and hedge funds own 72.41% of the company’s stock.
Oasis Petroleum Company Profile
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.