Oasis Petroleum Inc. to Post FY2018 Earnings of $0.29 Per Share, Williams Capital Forecasts (OAS)
Oasis Petroleum Inc. (NYSE:OAS) – Equities research analysts at Williams Capital upped their FY2018 earnings per share (EPS) estimates for Oasis Petroleum in a note issued to investors on Monday. Williams Capital analyst G. Sorbara now anticipates that the brokerage will earn $0.29 per share for the year, up from their previous estimate of $0.23. Williams Capital currently has a “Buy” rating and a $13.00 price objective on the stock.
Oasis Petroleum (NYSE:OAS) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates 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 company earned $179 million during the quarter, compared to analyst estimates of $184.47 million. During the same period last year, the business earned $0.38 earnings per share. Oasis Petroleum’s revenue was down 22.2% compared to the same quarter last year.
A number of other brokerages have also recently issued reports on OAS. Mizuho began coverage on shares of Oasis Petroleum in a research note on Wednesday, October 5th. They issued a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research raised Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday, October 5th. Goldman Sachs Group Inc. lowered Oasis Petroleum from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $8.75 to $8.50 in a research report on Tuesday. Canaccord Genuity reissued a “hold” rating and issued a $9.50 target price on shares of Oasis Petroleum in a research report on Tuesday. Finally, Vetr lowered Oasis Petroleum from a “strong-buy” rating to a “buy” rating and set a $11.75 target price for the company. in a research report on Monday, June 20th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $11.95.
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Oasis Petroleum (NYSE:OAS) traded down 4.497% during trading on Tuesday, hitting $10.725. 60,940,450 shares of the stock were exchanged. The firm’s market capitalization is $1.94 billion. The company has a 50-day moving average price of $10.34 and a 200 day moving average price of $9.48. Oasis Petroleum has a 1-year low of $3.40 and a 1-year high of $13.72.
A number of hedge funds have recently added to or reduced their stakes in OAS. IFP Advisors Inc raised 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 last quarter. Seven Eight Capital LLC acquired a new stake in Oasis Petroleum during the first quarter worth $126,000. Advisory Services Network LLC raised 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 worth $128,000 after buying an additional 1,300 shares during the last quarter. Sanders Morris Harris Inc. raised 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 worth $140,000 after buying an additional 5,000 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in Oasis Petroleum during the second quarter worth $143,000. Institutional investors and hedge funds own 89.80% of the company’s stock.
In other Oasis Petroleum 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 document filed with the SEC, which is available at this hyperlink. Also, COO Taylor L. Reid sold 25,000 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $9.42, for a total value of $235,500.00. Following the completion of the sale, the chief operating officer now owns 1,199,341 shares in the company, valued at approximately $11,297,792.22. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
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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