Zacks Investment Research cut shares of Oasis Petroleum Inc. (NYSE:OAS) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
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 equities research analysts also recently weighed in on the company. Raymond James Financial Inc. raised Oasis Petroleum from an outperform rating to a strong-buy rating and raised their price target for the stock from $14.00 to $17.00 in a report on Friday, August 5th. Bank of America Corp. raised Oasis Petroleum from a neutral rating to a buy rating in a report on Monday, October 24th. Susquehanna raised Oasis Petroleum from a neutral rating to a positive rating and set a $11.00 price target for the company in a report on Monday, August 1st. Jefferies Group reissued a buy rating and issued a $13.00 price target on shares of Oasis Petroleum in a report on Thursday, August 4th. Finally, Citigroup Inc. raised Oasis Petroleum to a strong-buy rating and raised their price target for the stock from $14.00 to $17.00 in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $13.16.
Shares of Oasis Petroleum (NYSE:OAS) opened at 12.63 on Tuesday. The stock’s market capitalization is $2.99 billion. Oasis Petroleum has a 12-month low of $3.40 and a 12-month high of $13.50. The company has a 50-day moving average of $11.55 and a 200 day moving average of $10.04.
Oasis Petroleum (NYSE:OAS) last posted its earnings results on Monday, November 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. Oasis Petroleum had a negative return on equity of 2.98% and a negative net margin of 27.57%. The company had revenue of $177.13 million for the quarter, compared to analyst estimates of $186.51 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. Analysts predict that Oasis Petroleum will post ($0.58) earnings per share for the current year.
In related news, COO Taylor L. Reid sold 25,000 shares of the stock in a transaction dated 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 owns 1,199,341 shares of the company’s stock, valued at approximately $11,297,792.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Advisory Corp Spo sold 2,975,700 shares of the 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. 2.50% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Hermes Investment Management Ltd. raised its position in Oasis Petroleum by 8.3% in the second quarter. Hermes Investment Management Ltd. now owns 3,718,752 shares of the company’s stock valued at $34,733,000 after buying an additional 285,100 shares during the last quarter. Bank of Montreal Can purchased a new position in Oasis Petroleum during the second quarter valued at about $3,970,000. Seven Eight Capital LLC purchased a new position in Oasis Petroleum during the first quarter valued at about $126,000. BlackRock Fund Advisors raised its position in Oasis Petroleum by 24.8% in the first quarter. BlackRock Fund Advisors now owns 4,775,460 shares of the company’s stock valued at $34,765,000 after buying an additional 949,589 shares during the last quarter. Finally, State Street Corp raised its position in Oasis Petroleum by 21.8% in the first quarter. State Street Corp now owns 7,765,817 shares of the company’s stock valued at $56,536,000 after buying an additional 1,388,971 shares during the last quarter. 72.41% of the stock is currently owned by hedge funds and other institutional investors.
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.