Goldman Sachs Group Inc. Downgrades Oasis Petroleum Inc. (OAS) to Sell
Oasis Petroleum Inc. (NYSE:OAS) was downgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a note issued to investors on Tuesday.
Other research analysts have also recently issued reports about the company. Raymond James Financial Inc. raised Oasis Petroleum from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $14.00 to $17.00 in a report on Friday, August 5th. Ladenburg Thalmann raised Oasis Petroleum from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a report on Wednesday, July 13th. 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. Vetr cut Oasis Petroleum from a “strong-buy” rating to a “buy” rating and set a $11.75 price target for the company. in a report on Monday, June 27th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $13.00 price target on shares of Oasis Petroleum in a report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $11.94.
Oasis Petroleum (NYSE:OAS) opened at 11.23 on Tuesday. The company’s market cap is $2.03 billion. Oasis Petroleum has a 12 month low of $3.40 and a 12 month high of $13.72. The company has a 50-day moving average of $10.34 and a 200-day moving average of $9.48.
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Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.04. The company earned $179 million during the quarter, compared to analysts’ expectations of $184.47 million. Oasis Petroleum had a negative return on equity of 1.22% and a negative net margin of 17.91%. The business’s revenue was down 22.2% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. Analysts predict that Oasis Petroleum will post ($0.62) EPS for the current year.
In related news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $11.56, for a total value of $34,399,092.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Thomas B. Nusz sold 200,000 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $8.92, for a total value of $1,784,000.00. Following the completion of the sale, the chairman now owns 1,590,772 shares in the company, valued at approximately $14,189,686.24. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in Oasis Petroleum by 0.9% in the second quarter. IFP Advisors Inc now owns 10,800 shares of the company’s stock worth $101,000 after buying an additional 100 shares during the period. Seven Eight Capital LLC purchased a new position in shares of Oasis Petroleum during the first quarter worth approximately $126,000. Advisory Services Network LLC raised its position in shares of Oasis Petroleum by 10.5% in the second quarter. Advisory Services Network LLC now owns 13,700 shares of the company’s stock worth $128,000 after buying an additional 1,300 shares in the last quarter. Sanders Morris Harris Inc. raised its position in shares of Oasis Petroleum by 50.0% in the second quarter. Sanders Morris Harris Inc. now owns 15,000 shares of the company’s stock worth $140,000 after buying an additional 5,000 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in shares of Oasis Petroleum during the second quarter worth approximately $143,000. Institutional investors and hedge funds own 89.80% of the company’s stock.
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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