Oasis Petroleum Inc. (OAS) Expected to Post Q3 2016 Earnings of ($0.20) Per Share
Oasis Petroleum Inc. (NYSE:OAS) – Research analysts at Williams Capital boosted their Q3 2016 earnings estimates for Oasis Petroleum in a research report issued to clients and investors on Monday. Williams Capital analyst G. Sorbara now anticipates that the firm will earn ($0.20) per share for the quarter, up from their previous estimate of ($0.21). Williams Capital currently has a “Buy” rating and a $14.00 target price on the stock. Williams Capital also issued estimates for Oasis Petroleum’s FY2016 earnings at ($0.67) EPS and FY2017 earnings at ($0.57) EPS.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.11) 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 the consensus estimate of $184.47 million. Oasis Petroleum had a negative return on equity of 1.22% and a negative net margin of 17.91%. Oasis Petroleum’s revenue was down 22.2% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share.
A number of other brokerages also recently commented on OAS. Mizuho began coverage on shares of Oasis Petroleum in a report on Wednesday, October 5th. They set a “buy” rating and a $15.00 price target for the company. Zacks Investment Research upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, October 5th. Goldman Sachs Group Inc. downgraded shares of Oasis Petroleum from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $8.75 to $8.50 in a report on Tuesday. Canaccord Genuity reiterated a “hold” rating and set a $9.50 price target on shares of Oasis Petroleum in a report on Tuesday. Finally, Piper Jaffray Cos. upgraded shares of Oasis Petroleum from a “neutral” rating to an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $12.11.
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Shares of Oasis Petroleum (NYSE:OAS) traded up 7.85% during mid-day trading on Wednesday, hitting $11.40. The company had a trading volume of 24,359,393 shares. The firm’s market capitalization is $2.06 billion. The firm has a 50-day moving average price of $10.36 and a 200-day moving average price of $9.50. Oasis Petroleum has a 52 week low of $3.40 and a 52 week high of $13.72.
In related news, Chairman Thomas B. Nusz sold 200,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $14,189,686.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Advisory Corp Spo sold 2,975,700 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $11.56, for a total transaction of $34,399,092.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. IFP Advisors Inc increased 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 valued at $101,000 after buying an additional 100 shares during the last quarter. BlackRock Advisors LLC increased its stake in Oasis Petroleum by 0.7% in the second quarter. BlackRock Advisors LLC now owns 85,194 shares of the company’s stock valued at $796,000 after buying an additional 558 shares during the last quarter. Creative Planning increased its stake in Oasis Petroleum by 5.3% in the second quarter. Creative Planning now owns 23,758 shares of the company’s stock valued at $222,000 after buying an additional 1,187 shares during the last quarter. 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 during the last quarter. Finally, Amalgamated Bank increased its stake in Oasis Petroleum by 10.3% in the second quarter. Amalgamated Bank now owns 19,432 shares of the company’s stock valued at $177,000 after buying an additional 1,809 shares during the last quarter. 89.80% of the stock is owned by institutional investors and hedge funds.
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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