Oasis Petroleum Inc. (OAS) Rating Increased to Overweight at Piper Jaffray Cos.
Oasis Petroleum Inc. (NYSE:OAS) was upgraded by research analysts at Piper Jaffray Cos. to an “overweight” rating in a research note issued to investors on Wednesday.
A number of other equities research analysts have also recently weighed in on OAS. Wunderlich lifted their price objective on shares of Oasis Petroleum from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday. Morgan Stanley reiterated a “hold” rating and issued a $12.00 price target on shares of Oasis Petroleum in a research report on Friday, August 5th. Mizuho reiterated a “buy” rating on shares of Oasis Petroleum in a research report on Tuesday. Nomura reiterated a “hold” rating and issued a $17.00 price target on shares of Oasis Petroleum in a research report on Monday, September 26th. Finally, Vetr upgraded shares of Oasis Petroleum from a “buy” rating to a “strong-buy” rating and set a $11.50 price target on the stock in a research report on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $12.08.
Oasis Petroleum (NYSE:OAS) opened at 10.57 on Wednesday. The stock’s market capitalization is $1.91 billion. The stock’s 50 day moving average is $10.36 and its 200 day moving average is $9.50. Oasis Petroleum has a one year low of $3.40 and a one year high of $13.72.
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Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.11) earnings per share 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 business had revenue of $179 million for the quarter, compared to analysts’ expectations of $184.47 million. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue was down 22.2% on a year-over-year basis. On average, equities analysts forecast that Oasis Petroleum will post ($0.62) EPS for the current year.
In other news, Chairman Thomas B. Nusz sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $8.92, for a total transaction of $1,784,000.00. Following the transaction, the chairman now directly owns 1,590,772 shares of the company’s stock, valued at $14,189,686.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief operating officer now directly owns 1,199,341 shares in the company, 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 made changes to their positions in OAS. Vanguard Group Inc. boosted its position in shares of Oasis Petroleum by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,745,058 shares of the company’s stock worth $119,038,000 after buying an additional 251,252 shares during the period. State Street Corp boosted its position in shares of Oasis Petroleum by 21.8% in the first quarter. State Street Corp now owns 7,765,817 shares of the company’s stock worth $56,536,000 after buying an additional 1,388,971 shares during the period. BlackRock Fund Advisors boosted its position in shares of Oasis Petroleum by 0.4% in the second quarter. BlackRock Fund Advisors now owns 4,792,923 shares of the company’s stock worth $44,766,000 after buying an additional 17,463 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Oasis Petroleum by 6.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,741,569 shares of the company’s stock worth $44,286,000 after buying an additional 292,813 shares during the period. Finally, Think Investments LP boosted its position in shares of Oasis Petroleum by 2.2% in the second quarter. Think Investments LP now owns 4,688,538 shares of the company’s stock worth $42,857,000 after buying an additional 100,000 shares during the period. 89.80% of the stock is currently owned by hedge funds and other institutional investors.
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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