Oasis Petroleum Inc. (OAS) Stock Price Down 2.6%
Oasis Petroleum Inc. (NYSE:OAS) fell 2.6% during mid-day trading on Tuesday . The stock traded as low as $8.76 and last traded at $8.91, with a volume of 6,361,822 shares traded. The stock had previously closed at $9.15.
Several research firms have recently issued reports on OAS. Simmons reissued a “hold” rating on shares of Oasis Petroleum in a research note on Sunday, June 12th. Vetr upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $11.33 price target for the company in a research report on Thursday, June 2nd. Morgan Stanley restated a “hold” rating and set a $12.00 price target on shares of Oasis Petroleum in a research report on Friday, August 5th. Piper Jaffray Cos. initiated coverage on shares of Oasis Petroleum in a research report on Friday, June 10th. They set a “neutral” rating and a $13.00 price target for the company. Finally, Canaccord Genuity set a $9.50 price target on shares of Oasis Petroleum and gave the stock a “hold” rating in a research report on Thursday, September 15th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.43.
The stock’s market cap is $1.60 billion. The firm’s 50 day moving average price is $9.34 and its 200 day moving average price is $8.98.
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Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. Oasis Petroleum had a negative net margin of 17.91% and a negative return on equity of 1.22%. The firm earned $179 million during the quarter, compared to analyst estimates of $184.47 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. Oasis Petroleum’s revenue for the quarter was down 22.2% compared to the same quarter last year. Equities research analysts anticipate that Oasis Petroleum Inc. will post ($0.62) earnings per share for the current fiscal year.
In related news, Chairman Thomas B. Nusz sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $8.92, for a total transaction of $1,784,000.00. Following the completion of the transaction, the chairman now owns 1,590,772 shares of the company’s stock, valued at $14,189,686.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of OAS. IFP Advisors Inc raised its position 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 valued at $101,000 after buying an additional 100 shares during the period. Advisory Services Network LLC increased its stake in Oasis Petroleum by 10.5% in the second quarter. Advisory Services Network LLC now owns 13,700 shares of the company’s stock valued at $128,000 after buying an additional 1,300 shares in the last quarter. Sanders Morris Harris Inc. increased its stake in Oasis Petroleum by 50.0% in the second quarter. Sanders Morris Harris Inc. now owns 15,000 shares of the company’s stock valued at $140,000 after buying an additional 5,000 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Oasis Petroleum by 949.4% in the second quarter. BNP Paribas Arbitrage SA now owns 15,993 shares of the company’s stock valued at $149,000 after buying an additional 14,469 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Oasis Petroleum by 36.7% in the second quarter. Profund Advisors LLC now owns 16,340 shares of the company’s stock valued at $153,000 after buying an additional 4,386 shares in the last quarter. 90.23% of the stock is 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.
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