Oasis Petroleum Inc. (OAS) Upgraded by Capital One Financial Corp. to Overweight
Oasis Petroleum Inc. (NYSE:OAS) was upgraded by analysts at Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday.
Several other research analysts also recently commented on OAS. Williams Capital lifted their price target on Oasis Petroleum from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Jaffray Cos. upgraded Oasis Petroleum from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Wunderlich boosted their price objective on Oasis Petroleum from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday. Morgan Stanley restated a “hold” rating and set a $12.00 price objective on shares of Oasis Petroleum in a research report on Friday, August 5th. Finally, Mizuho restated a “buy” rating on shares of Oasis Petroleum in a research report on Tuesday. 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 issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $12.11.
Shares of Oasis Petroleum (NYSE:OAS) opened at 10.57 on Wednesday. Oasis Petroleum has a 1-year low of $3.40 and a 1-year high of $13.72. The company’s market capitalization is $1.91 billion. The firm 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 issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.04. The company had revenue of $179 million for 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 company’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. Equities analysts anticipate that Oasis Petroleum will post ($0.62) earnings per share for the current year.
In other Oasis Petroleum news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the company’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $11.56, for a total value of $34,399,092.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Taylor L. Reid sold 25,000 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $9.42, for a total transaction of $235,500.00. Following the completion of the transaction, the chief operating officer now owns 1,199,341 shares in the company, valued at $11,297,792.22. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors Inc. raised its position in Oasis Petroleum by 34.4% in the first quarter. Teachers Advisors Inc. now owns 294,246 shares of the company’s stock worth $2,142,000 after buying an additional 75,283 shares during the period. Prudential Financial Inc. raised its position in Oasis Petroleum by 175.7% in the first quarter. Prudential Financial Inc. now owns 1,212,183 shares of the company’s stock worth $8,825,000 after buying an additional 772,460 shares during the period. BlackRock Fund Advisors raised its position in Oasis Petroleum by 24.8% in the first quarter. BlackRock Fund Advisors now owns 4,775,460 shares of the company’s stock worth $34,765,000 after buying an additional 949,589 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in 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 worth $32,387,000 after buying an additional 819,288 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Oasis Petroleum by 49.0% in the first quarter. JPMorgan Chase & Co. now owns 151,501 shares of the company’s stock worth $1,103,000 after buying an additional 49,832 shares during the period. 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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