Oasis Petroleum Inc. (OAS) Receives “Buy” Rating from Royal Bank Of Canada
Oasis Petroleum Inc. (NYSE:OAS)‘s stock had its “buy” rating reaffirmed by Royal Bank Of Canada in a research report issued on Thursday. They presently have a $14.00 target price on the energy producer’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 78.12% from the company’s current price.
OAS has been the subject of several other reports. Credit Suisse Group reiterated a “neutral” rating and issued a $19.00 target price on shares of Oasis Petroleum in a research note on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 target price on shares of Oasis Petroleum in a research note on Thursday, July 6th. Bank of America Corporation started coverage on Oasis Petroleum in a research note on Wednesday. They issued a “neutral” rating and a $9.00 target price for the company. BidaskClub upgraded Oasis Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Wolfe Research started coverage on Oasis Petroleum in a research note on Thursday, June 15th. They issued a “market perform” rating and a $11.00 target price for the company. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.45.
Shares of Oasis Petroleum (OAS) traded down 3.91% on Thursday, reaching $7.86. The company’s stock had a trading volume of 8,428,788 shares. Oasis Petroleum has a 1-year low of $6.56 and a 1-year high of $17.08. The company has a 50 day moving average of $8.39 and a 200 day moving average of $12.09. The stock’s market capitalization is $1.87 billion.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Monday, May 8th. The energy producer reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. The firm had revenue of $285.10 million during the quarter, compared to analyst estimates of $252.72 million. Oasis Petroleum had a negative return on equity of 2.88% and a negative net margin of 18.00%. The business’s quarterly revenue was up 119.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) earnings per share. Equities research analysts expect that Oasis Petroleum will post ($0.10) earnings per share for the current fiscal year.
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In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 187,236 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $9.50, for a total transaction of $1,778,742.00. Following the transaction, the chairman now owns 1,469,546 shares of the company’s stock, valued at approximately $13,960,687. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Oasis Petroleum by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 19,887,696 shares of the energy producer’s stock worth $283,596,000 after buying an additional 249,264 shares in the last quarter. Vanguard Group Inc. increased its position in Oasis Petroleum by 5.0% in the first quarter. Vanguard Group Inc. now owns 19,396,245 shares of the energy producer’s stock worth $276,591,000 after buying an additional 917,054 shares in the last quarter. State Street Corp increased its position in Oasis Petroleum by 2.4% in the first quarter. State Street Corp now owns 7,963,283 shares of the energy producer’s stock worth $113,555,000 after buying an additional 183,380 shares in the last quarter. Alliancebernstein L.P. increased its position in Oasis Petroleum by 21.4% in the first quarter. Alliancebernstein L.P. now owns 6,585,806 shares of the energy producer’s stock worth $93,914,000 after buying an additional 1,161,691 shares in the last quarter. Finally, Caymus Capital Partners L.P. increased its position in Oasis Petroleum by 48.5% in the first quarter. Caymus Capital Partners L.P. now owns 4,153,200 shares of the energy producer’s stock worth $59,225,000 after buying an additional 1,356,200 shares in the last quarter. 98.72% 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, Well Services, and Midstream Services.
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