Oasis Petroleum Inc. (OAS) Trading 5.6% Higher
Oasis Petroleum Inc. (NYSE:OAS)’s share price traded up 5.6% during mid-day trading on Wednesday . The company traded as high as $9.43 and last traded at $9.38, with a volume of 6,208,019 shares changing hands. The stock had previously closed at $8.88.
A number of equities analysts have recently issued reports on the stock. BMO Capital Markets set a $10.00 price objective on shares of Oasis Petroleum and gave the company a “hold” rating in a research note on Wednesday, September 14th. Canaccord Genuity set a $9.50 price objective on shares of Oasis Petroleum and gave the company a “hold” rating in a research note on Thursday, September 15th. Deutsche Bank AG increased their price objective on shares of Oasis Petroleum from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, September 14th. Citigroup Inc. increased their target price on shares of Oasis Petroleum from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Seaport Global Securities upgraded shares of Oasis Petroleum from a “neutral” rating to an “accumulate” rating and increased their target price for the stock from $10.00 to $12.00 in a research report on Tuesday, August 30th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Oasis Petroleum presently has a consensus rating of “Hold” and an average target price of $11.43.
The firm has a 50-day moving average price of $9.40 and a 200 day moving average price of $9.00. The stock’s market cap is $1.72 billion.
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Oasis Petroleum (NYSE:OAS) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.04. Oasis Petroleum had a negative return on equity of 1.22% and a negative net margin of 17.91%. The business had revenue of $179 million for the quarter, compared to analysts’ expectations of $184.47 million. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue was down 22.2% on a year-over-year basis. Analysts anticipate that Oasis Petroleum Inc. will post ($0.62) EPS for the current 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 stock was sold at an average price of $8.92, for a total value of $1,784,000.00. Following the sale, the chairman now directly owns 1,590,772 shares in the company, valued at $14,189,686.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of Oasis Petroleum by 1,169.4% in the second quarter. FMR LLC now owns 2,850,883 shares of the company’s stock valued at $26,627,000 after buying an additional 2,626,300 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Oasis Petroleum during the first quarter worth about $18,652,000. Dimensional Fund Advisors LP boosted its position in Oasis Petroleum by 109.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,465,955 shares of the company’s stock worth $41,714,000 after buying an additional 2,335,876 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Oasis Petroleum during the second quarter worth about $17,555,000. Finally, UBS Asset Management Americas Inc. boosted its position in Oasis Petroleum by 81.4% in the first quarter. UBS Asset Management Americas Inc. now owns 3,762,847 shares of the company’s stock worth $27,395,000 after buying an additional 1,689,060 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.
Oasis Petroleum Company Profile
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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