Oasis Petroleum Inc. (OAS) Lifted to Overweight at Simmons
Oasis Petroleum Inc. (NYSE:OAS) was upgraded by analysts at Simmons from a “neutral” rating to an “overweight” rating in a report issued on Wednesday.
A number of other brokerages have also issued reports on OAS. Mizuho assumed coverage on shares of Oasis Petroleum in a research note on Wednesday, October 5th. They issued a “buy” rating and a $15.00 target price on the stock. Zacks Investment Research upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, October 5th. Goldman Sachs Group Inc. lowered shares of Oasis Petroleum from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $8.75 to $8.50 in a research note on Tuesday. Canaccord Genuity reiterated a “hold” rating and set a $9.50 price objective on shares of Oasis Petroleum in a research note on Tuesday. Finally, Piper Jaffray Cos. upgraded shares of Oasis Petroleum from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Oasis Petroleum currently has an average rating of “Buy” and an average target price of $12.11.
Oasis Petroleum (NYSE:OAS) traded up 5.1930% during mid-day trading on Wednesday, reaching $11.1189. The company’s stock had a trading volume of 13,736,689 shares. The stock’s 50 day moving average price is $10.36 and its 200 day moving average price is $9.50. The stock’s market capitalization is $2.01 billion. Oasis Petroleum has a 1-year low of $3.40 and a 1-year high of $13.72.
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Oasis Petroleum (NYSE:OAS) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $179 million for the quarter, compared to analyst estimates of $184.47 million. Oasis Petroleum had a negative net margin of 17.91% and a negative return on equity of 1.22%. The company’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. Analysts expect that Oasis Petroleum will post ($0.62) EPS for the current fiscal year.
In other news, COO Taylor L. Reid sold 25,000 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $9.42, for a total transaction of $235,500.00. Following the transaction, the chief operating officer now owns 1,199,341 shares in the company, valued at approximately $11,297,792.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Advisory Corp Spo sold 2,975,700 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were 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 company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OAS. IFP Advisors Inc increased its position 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 in the last quarter. Seven Eight Capital LLC acquired a new position in Oasis Petroleum during the first quarter worth $126,000. Advisory Services Network LLC increased its position 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 in the last quarter. Sanders Morris Harris Inc. increased its position 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 in the last quarter. Finally, Atria Investments LLC acquired a new position in Oasis Petroleum during the second quarter worth $143,000. Institutional investors and hedge funds own 89.80% 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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