Oasis Petroleum Inc. (OAS) Stock Rating Upgraded by Capital One Financial Corp.
Oasis Petroleum Inc. (NYSE:OAS) was upgraded by Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday.
A number of other brokerages have also recently commented 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 report on Wednesday, July 13th. Goldman Sachs Group Inc. lowered Oasis Petroleum from a “neutral” rating to a “sell” rating and reduced their price target for the company from $8.75 to $8.50 in a research report on Tuesday. Citigroup Inc. raised Oasis Petroleum to a “strong-buy” rating and increased their price target for the company from $14.00 to $17.00 in a research report on Friday, August 5th. Raymond James Financial Inc. raised Oasis Petroleum from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $14.00 to $17.00 in a research report on Friday, August 5th. Finally, Nomura reaffirmed a “hold” rating and issued a $17.00 price target on shares of Oasis Petroleum in a research report on Monday, September 26th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $12.11.
Shares of Oasis Petroleum (NYSE:OAS) opened at 10.57 on Wednesday. Oasis Petroleum has a 12 month low of $3.40 and a 12 month 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. The stock’s market cap is $1.91 billion.
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Oasis Petroleum (NYSE:OAS) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates 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 company earned $179 million during the quarter, compared to analysts’ expectations of $184.47 million. During the same period last year, the business posted $0.38 EPS. Oasis Petroleum’s revenue for the quarter was down 22.2% on a year-over-year basis. On average, analysts expect that Oasis Petroleum will post ($0.62) EPS for the current fiscal year.
In related news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $11.56, for a total transaction of $34,399,092.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the chairman now directly owns 1,590,772 shares in the company, valued at $14,189,686.24. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in 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 last quarter. State Street Corp raised its stake 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 valued at $56,536,000 after buying an additional 1,388,971 shares in the last quarter. BlackRock Fund Advisors raised its stake 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 valued at $44,766,000 after buying an additional 17,463 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake 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 valued at $44,286,000 after buying an additional 292,813 shares in the last quarter. Finally, Think Investments LP raised its stake 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 valued at $42,857,000 after buying an additional 100,000 shares in the last quarter. 89.80% of the stock is currently owned by 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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