$272.09 Million in Sales Expected for Oasis Petroleum Inc. (OAS) This Quarter
Equities research analysts predict that Oasis Petroleum Inc. (NYSE:OAS) will post sales of $272.09 million for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Oasis Petroleum’s earnings, with the highest sales estimate coming in at $288.44 million and the lowest estimate coming in at $253.36 million. Oasis Petroleum posted sales of $179.08 million during the same quarter last year, which would indicate a positive year over year growth rate of 51.9%. The firm is expected to report its next quarterly earnings report on Wednesday, August 2nd.
On average, analysts expect that Oasis Petroleum will report full year sales of $272.09 million for the current fiscal year, with estimates ranging from $1.06 billion to $1.29 billion. For the next year, analysts forecast that the firm will post sales of $1.49 billion per share, with estimates ranging from $1.39 billion to $1.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Oasis Petroleum.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Monday, May 8th. The energy producer reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $252.72 million. Oasis Petroleum had a negative return on equity of 2.98% and a negative net margin of 27.57%. The company’s quarterly revenue was up 119.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share.
Several research firms recently weighed in on OAS. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 target price on shares of Oasis Petroleum in a report on Wednesday, May 17th. Williams Capital reiterated a “hold” rating and issued a $15.00 target price on shares of Oasis Petroleum in a report on Monday, May 15th. Bank of America Corp downgraded shares of Oasis Petroleum from a “buy” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $16.00 in a report on Thursday, May 11th. BMO Capital Markets set a $18.00 target price on shares of Oasis Petroleum and gave the company a “buy” rating in a report on Monday, May 8th. Finally, SunTrust Banks, Inc. upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and lifted their target price for the company from $16.00 to $17.00 in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $15.37.
Oasis Petroleum (NYSE:OAS) opened at 10.48 on Friday. The stock’s 50 day moving average price is $12.10 and its 200-day moving average price is $13.61. The company’s market cap is $2.49 billion. Oasis Petroleum has a 1-year low of $6.56 and a 1-year high of $17.08. Oasis Petroleum also was the recipient of some unusual options trading activity on Wednesday. Traders acquired 12,441 call options on the stock. This represents an increase of approximately 792% compared to the typical volume of 1,395 call options.
Several large investors have recently added to or reduced their stakes in the company. TPH Asset Management LLC boosted its stake in Oasis Petroleum by 14.3% in the third quarter. TPH Asset Management LLC now owns 2,301,154 shares of the energy producer’s stock valued at $26,394,000 after buying an additional 288,254 shares during the period. Creative Planning boosted its stake in Oasis Petroleum by 1.3% in the first quarter. Creative Planning now owns 24,382 shares of the energy producer’s stock valued at $348,000 after buying an additional 323 shares during the period. Russell Investments Group Ltd. purchased a new stake in Oasis Petroleum during the fourth quarter valued at about $2,127,000. Norges Bank purchased a new stake in Oasis Petroleum during the fourth quarter valued at about $29,719,000. Finally, Folger Hill Asset Management LP purchased a new stake in Oasis Petroleum during the fourth quarter valued at about $1,136,000. 78.29% of the stock is owned by institutional investors and hedge funds.
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, Well Services, and Midstream Services.
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