Oasis Petroleum Inc. (OAS) Price Target Raised to $12.00
Oasis Petroleum Inc. (NYSE:OAS) had its target price boosted by analysts at Wunderlich from $10.00 to $12.00 in a research note issued on Wednesday, StockTargetPrices.com reports. The firm presently has a “hold” rating on the stock. Wunderlich’s price objective would indicate a potential upside of 13.53% from the company’s previous close.
A number of other research firms also recently weighed in on OAS. Ladenburg Thalmann upgraded Oasis Petroleum from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Wednesday, July 13th. Goldman Sachs Group Inc. downgraded Oasis Petroleum from a “neutral” rating to a “sell” rating and cut their price objective for the company from $8.75 to $8.50 in a research report on Tuesday. Citigroup Inc. upgraded Oasis Petroleum to a “strong-buy” rating and increased their price objective for the company from $14.00 to $17.00 in a research report on Friday, August 5th. Raymond James Financial Inc. upgraded Oasis Petroleum from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $14.00 to $17.00 in a research report on Friday, August 5th. Finally, Nomura reiterated a “hold” rating and set a $17.00 price objective on shares of Oasis Petroleum in a research report on Monday, September 26th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Oasis Petroleum presently has a consensus rating of “Hold” and a consensus target price of $12.08.
Oasis Petroleum (NYSE:OAS) opened at 10.57 on Wednesday. The firm’s market cap is $1.91 billion. Oasis Petroleum has a one year low of $3.40 and a one year high of $13.72. The company has a 50-day moving average price of $10.36 and a 200-day moving average price of $9.50.
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Oasis Petroleum (NYSE:OAS) last released its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The firm 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%. The firm’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. Equities analysts predict that Oasis Petroleum will post ($0.62) earnings per share for the current fiscal year.
In other news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $11.56, for a total transaction of $34,399,092.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Taylor L. Reid sold 25,000 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $9.42, for a total value of $235,500.00. Following the transaction, the chief operating officer now owns 1,199,341 shares of the company’s stock, valued at $11,297,792.22. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of OAS. FMR LLC increased its position in Oasis Petroleum by 1,169.4% in the second quarter. FMR LLC now owns 2,850,883 shares of the company’s stock worth $26,627,000 after buying an additional 2,626,300 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Oasis Petroleum during the first quarter worth approximately $18,652,000. Dimensional Fund Advisors LP increased 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 in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Oasis Petroleum during the second quarter worth approximately $17,555,000. Finally, UBS Asset Management Americas Inc. increased 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 in the last quarter. Hedge funds and other institutional investors 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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