Oasis Petroleum Shares Gap Up Following Analyst Upgrade (OAS)
Shares of Oasis Petroleum (NYSE:OAS) gapped up before the market opened on Monday after Raymond James upgraded the stock from an outperform rating to a strong-buy rating, AmericanBankingNews.com reports. The stock had previously closed at $54.50, but opened at $54.84. Raymond James now has a $70.00 price target on the stock, up from their previous price target of $63.00. Oasis Petroleum shares last traded at $55.74, with a volume of 1,016,088 shares changing hands.
A number of other analysts have also recently weighed in on OAS. Analysts at Topeka Capital Markets raised their price target on shares of Oasis Petroleum from $56.00 to $64.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Iberia Capital initiated coverage on shares of Oasis Petroleum in a research note on Wednesday, June 18th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Oasis Petroleum in a research note on Wednesday, June 11th. They now have a $55.00 price target on the stock, up previously from $46.00. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Oasis Petroleum has an average rating of “Buy” and a consensus price target of $55.34.
In other Oasis Petroleum news, Director Ted Collins, Jr. bought 2,000 shares of Oasis Petroleum stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average cost of $53.39 per share, for a total transaction of $106,780.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
The stock has a 50-day moving average of $50.60 and a 200-day moving average of $45.35. The company has a market cap of $5.631 billion and a P/E ratio of 15.09.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.62 by $0.03. The company had revenue of $349.52 million for the quarter, compared to the consensus estimate of $337.02 million. On average, analysts predict that Oasis Petroleum will post $3.16 earnings per share for the current fiscal year.
Oasis Petroleum Inc is an exploration and production company. The Company focuses 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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