Trade Report: Today, Oasis Petroleum Inc. (OAS) Bonds Drop 0.5% During Trading

Today, Oasis Petroleum Inc. (OAS) Bonds Drop 0.5% During Trading

An issue of Oasis Petroleum Inc. (NYSE:OAS) bonds fell 0.5% against their face value during trading on Monday. The high-yield issue of debt 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 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday. KeyCorp raised their price objective on shares of Oasis Petroleum from $12.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, November 22nd. Deutsche Bank AG raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, November 10th. Wunderlich raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $14.00 in a research note on Wednesday, November 9th. Finally, BMO Capital Markets reissued a “hold” rating and set a $13.00 price target on shares of Oasis Petroleum in a research note on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Oasis Petroleum presently has a consensus rating of “Buy” and an average target price of $13.16.

Oasis Petroleum Inc. (NYSE:OAS) traded down 5.78% on Monday, hitting $11.90. 14,542,113 shares of the stock traded hands. The stock has a 50 day moving average of $11.57 and a 200 day moving average of $10.07. The firm’s market capitalization is $2.81 billion. Oasis Petroleum Inc. has a 52 week low of $3.40 and a 52 week high of $13.50.

Oasis Petroleum (NYSE:OAS) last issued its 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 business had revenue of $177.13 million for 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 revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. Equities research analysts anticipate that Oasis Petroleum Inc. will post ($0.58) earnings per share for the current year.

In related news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Taylor L. Reid sold 25,000 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $9.42, for a total transaction of $235,500.00. Following the transaction, the chief operating officer now directly owns 1,199,341 shares in the company, valued at $11,297,792.22. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of OAS. Henderson Group PLC raised its position in Oasis Petroleum by 2.2% in the second quarter. Henderson Group PLC now owns 146,686 shares of the company’s stock worth $1,370,000 after buying an additional 3,138 shares during the period. Advisory Services Network LLC raised its position 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 period. Capital Fund Management S.A. acquired a new position in Oasis Petroleum during the second quarter worth $1,433,000. Artemis Investment Management LLP raised its position in Oasis Petroleum by 100.0% in the second quarter. Artemis Investment Management LLP now owns 258,002 shares of the company’s stock worth $2,408,000 after buying an additional 129,001 shares during the period. Finally, Bank of Montreal Can acquired a new position in Oasis Petroleum during the second quarter worth $3,970,000. 76.42% of the stock is currently owned by institutional investors and hedge funds.

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