Oasis Petroleum Inc. (OAS) Upgraded by Simmons to Overweight
Oasis Petroleum Inc. (NYSE:OAS) was upgraded by research analysts at Simmons from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday.
A number of other research analysts have also issued reports on OAS. Mizuho initiated coverage on Oasis Petroleum in a research note on Wednesday, October 5th. They issued a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research raised Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, October 5th. Goldman Sachs Group Inc. cut Oasis Petroleum from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $8.75 to $8.50 in a research note on Tuesday. Canaccord Genuity reissued a “hold” rating and issued a $9.50 price target on shares of Oasis Petroleum in a research note on Tuesday. Finally, Wunderlich lifted their price target on Oasis Petroleum from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $12.11.
Shares of Oasis Petroleum (NYSE:OAS) traded up 7.0114% on Wednesday, hitting $11.3111. 20,510,705 shares of the stock traded hands. Oasis Petroleum has a one year low of $3.40 and a one year high of $13.72. The stock’s market cap is $2.04 billion. The company’s 50 day moving average is $10.36 and its 200 day moving average is $9.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/oasis-petroleum-inc-oas-upgraded-by-simmons-to-overweight.html
Oasis Petroleum (NYSE:OAS) last issued its quarterly 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. The company had revenue of $179 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 22.2% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. On average, equities analysts forecast that Oasis Petroleum will post ($0.62) EPS for the current year.
In other Oasis Petroleum news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the business’s stock in a transaction on Wednesday, October 5th. The stock was 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 is available at this link. Also, Chairman Thomas B. Nusz sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $8.92, for a total value of $1,784,000.00. Following the completion of the transaction, the chairman now directly owns 1,590,772 shares in the company, valued at approximately $14,189,686.24. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. IFP Advisors Inc raised its position in Oasis Petroleum by 0.9% in the second quarter. IFP Advisors Inc now owns 10,800 shares of the company’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Seven Eight Capital LLC acquired a new position in Oasis Petroleum during the first quarter worth approximately $126,000. Advisory Services Network LLC raised its position in Oasis Petroleum by 10.5% in the second quarter. Advisory Services Network LLC now owns 13,700 shares of the company’s stock worth $128,000 after buying an additional 1,300 shares in the last quarter. Sanders Morris Harris Inc. raised its position in Oasis Petroleum by 50.0% in the second quarter. Sanders Morris Harris Inc. now owns 15,000 shares of the company’s stock worth $140,000 after buying an additional 5,000 shares in the last quarter. Finally, Atria Investments LLC acquired a new position in Oasis Petroleum during the second quarter worth approximately $143,000. 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.
Receive News & Ratings for Oasis Petroleum Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oasis Petroleum Inc. and related companies with MarketBeat.com's FREE daily email newsletter.