Oasis Petroleum Upgraded to “Buy” by Canaccord Genuity (OAS)
Oasis Petroleum (NYSE:OAS) was upgraded by equities researchers at Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $55.00 price target on the stock, up from their previous price target of $50.00. Canaccord Genuity’s price objective indicates a potential upside of 33.04% from the stock’s previous close.
Oasis Petroleum (NYSE:OAS) traded up 2.66% during mid-day trading on Friday, hitting $41.34. 4,498,013 shares of the company’s stock traded hands. Oasis Petroleum has a 1-year low of $31.58 and a 1-year high of $57.33. The stock’s 50-day moving average is $43. and its 200-day moving average is $45.6. The company has a market cap of $3.874 billion and a price-to-earnings ratio of 17.29. Oasis Petroleum also was the target of unusually large options trading on Tuesday. Stock traders bought 12,977 call options on the stock. This is an increase of approximately 884% compared to the average daily volume of 1,319 call options.
A number of other analysts have also recently weighed in on OAS. Analysts at Deutsche Bank cut their price target on shares of Oasis Petroleum from $54.00 to $50.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at UBS AG reiterated a “buy” rating on shares of Oasis Petroleum in a research note to investors on Wednesday. They now have a $54.00 price target on the stock, down previously from $58.00. Finally, analysts at KLR Group upgraded shares of Oasis Petroleum to a “buy” rating in a research note to investors on Wednesday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Oasis Petroleum currently has a consensus rating of “Buy” and an average target price of $55.73.
Oasis Petroleum Inc is an exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources in the Montana and North Dakota regions of the Williston Basin.
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