Oasis Petroleum Inc. (OAS) Rating Increased to Overweight at Piper Jaffray Cos.
Oasis Petroleum Inc. (NYSE:OAS) was upgraded by equities researchers at Piper Jaffray Cos. to an “overweight” rating in a note issued to investors on Wednesday.
Several other analysts also recently weighed in on the company. Raymond James Financial Inc. upgraded Oasis Petroleum from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $14.00 to $17.00 in a research report on Friday, August 5th. Ladenburg Thalmann upgraded Oasis Petroleum from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, July 13th. Susquehanna upgraded Oasis Petroleum from a “neutral” rating to a “positive” rating and set a $11.00 price objective for the company in a research report on Monday, August 1st. Vetr downgraded 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 27th. Finally, Jefferies Group reiterated a “buy” rating and issued a $13.00 target price on shares of Oasis Petroleum in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have assigned 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 price target of $12.08.
Oasis Petroleum (NYSE:OAS) opened at 10.57 on Wednesday. The stock’s 50 day moving average price is $10.36 and its 200 day moving average price is $9.50. Oasis Petroleum has a 52-week low of $3.40 and a 52-week high of $13.72. The firm’s market capitalization is $1.91 billion.
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Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. Oasis Petroleum had a negative return on equity of 1.22% and a negative net margin of 17.91%. The business earned $179 million during the quarter, compared to the consensus estimate of $184.47 million. During the same period in the prior year, the company earned $0.38 EPS. Oasis Petroleum’s revenue for the quarter was down 22.2% on a year-over-year basis. On average, equities analysts anticipate that Oasis Petroleum will post ($0.62) earnings per share for the current fiscal year.
In related news, COO Taylor L. Reid sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were 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 $11,297,792.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Thomas B. Nusz sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $8.92, for a total transaction 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 approximately $14,189,686.24. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Oasis Petroleum by 22.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,448,756 shares of the company’s stock valued at $32,387,000 after buying an additional 819,288 shares during the period. Hermes Investment Management Ltd. boosted its stake in shares of Oasis Petroleum by 8.3% in the second quarter. Hermes Investment Management Ltd. now owns 3,718,752 shares of the company’s stock valued at $34,733,000 after buying an additional 285,100 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of Oasis Petroleum during the first quarter valued at approximately $1,217,000. NorthRock Partners LLC bought a new stake in shares of Oasis Petroleum during the first quarter valued at approximately $218,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Oasis Petroleum by 783.1% in the first quarter. Canada Pension Plan Investment Board now owns 371,800 shares of the company’s stock valued at $2,707,000 after buying an additional 329,700 shares during the period. 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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