Zacks: Brokerages Expect Oasis Petroleum Inc. (OAS) Will Announce Quarterly Sales of $269.38 Million
Brokerages predict that Oasis Petroleum Inc. (NYSE:OAS) will announce sales of $269.38 million for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Oasis Petroleum’s earnings, with estimates ranging from $253.36 million to $288.44 million. Oasis Petroleum posted sales of $179.08 million during the same quarter last year, which suggests a positive year-over-year growth rate of 50.4%. The firm is expected to report its next quarterly earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Oasis Petroleum will report full-year sales of $269.38 million for the current financial year, with estimates ranging from $1.06 billion to $1.29 billion. For the next year, analysts anticipate that the business will post sales of $1.45 billion per share, with estimates ranging from $958.20 million to $1.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Oasis Petroleum.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Monday, May 8th. The energy producer reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. Oasis Petroleum had a negative return on equity of 2.88% and a negative net margin of 18.00%. The business had revenue of $285.10 million for the quarter, compared to the consensus estimate of $252.72 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. Oasis Petroleum’s revenue for the quarter was up 119.3% compared to the same quarter last year.
A number of research firms have issued reports on OAS. BMO Capital Markets upgraded Oasis Petroleum from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $14.26 to $18.00 in a report on Friday, March 31st. Williams Capital upgraded Oasis Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, February 23rd. Stifel Nicolaus began coverage on Oasis Petroleum in a report on Friday, April 7th. They set a “hold” rating and a $13.00 target price for the company. Canaccord Genuity set a $15.00 target price on Oasis Petroleum and gave the stock a “hold” rating in a report on Monday, February 27th. Finally, Royal Bank Of Canada set a $17.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a report on Saturday, February 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $15.47.
In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 187,236 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $9.50, for a total transaction of $1,778,742.00. Following the completion of the sale, the chairman now directly owns 1,469,546 shares in the company, valued at $13,960,687. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Creative Planning increased its stake in shares of 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. bought a new stake in shares of Oasis Petroleum during the fourth quarter valued at about $2,127,000. Norges Bank bought a new stake in shares of Oasis Petroleum during the fourth quarter valued at about $29,719,000. DekaBank Deutsche Girozentrale increased its stake in shares of Oasis Petroleum by 14.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,819 shares of the energy producer’s stock valued at $164,000 after buying an additional 1,526 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of Oasis Petroleum by 1.8% in the fourth quarter. Macquarie Group Ltd. now owns 3,169,573 shares of the energy producer’s stock valued at $47,987,000 after buying an additional 54,668 shares during the period. Hedge funds and other institutional investors own 98.38% of the company’s stock.
Shares of Oasis Petroleum (NYSE OAS) traded up 1.17% on Friday, reaching $7.75. The company’s stock had a trading volume of 9,065,926 shares. Oasis Petroleum has a 52-week low of $6.56 and a 52-week high of $17.08. The company’s market cap is $1.84 billion. The company has a 50 day moving average price of $10.50 and a 200 day moving average price of $13.21.
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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