Citigroup Inc. Cuts Oasis Petroleum Inc. (NYSE:OAS) Price Target to $12.00
Oasis Petroleum Inc. (NYSE:OAS) had its price target reduced by stock analysts at Citigroup Inc. from $13.00 to $12.00 in a research report issued on Friday. The brokerage presently has a “buy” rating on the energy producer’s stock. Citigroup Inc.’s price target indicates a potential upside of 60.21% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Williams Capital restated a “hold” rating and issued a $15.00 price objective on shares of Oasis Petroleum in a report on Monday, May 15th. Cowen and Company set a $14.00 price objective on shares of Oasis Petroleum and gave the company a “buy” rating in a report on Monday, July 10th. Bank of America Corporation cut shares of Oasis Petroleum from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $16.00 in a report on Thursday, May 11th. SunTrust Banks, Inc. upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and lifted their price objective for the company from $16.00 to $17.00 in a report on Wednesday, May 3rd. Finally, UBS AG upgraded shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $14.00 to $13.00 in a report on Thursday, June 8th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $14.42.
Shares of Oasis Petroleum (NYSE:OAS) traded down 4.71% during trading on Friday, reaching $7.49. 11,995,455 shares of the company’s stock were exchanged. The company has a 50 day moving average of $8.34 and a 200 day moving average of $12.06. The stock’s market cap is $1.78 billion. Oasis Petroleum has a 12-month low of $6.56 and a 12-month high of $17.08.
Oasis Petroleum (NYSE:OAS) last announced 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 net margin of 18.00% and a negative return on equity of 2.88%. The business had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $252.72 million. During the same period last year, the business earned ($0.18) earnings per share. The business’s revenue for the quarter was up 119.3% on a year-over-year basis. Equities research analysts anticipate that Oasis Petroleum will post ($0.13) EPS for the current year.
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In other news, Chairman Thomas B. Nusz sold 187,236 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 1,469,546 shares of the company’s stock, valued at approximately $13,960,687. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its position in Oasis Petroleum by 14.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,819 shares of the energy producer’s stock worth $164,000 after buying an additional 1,526 shares during the period. Hudson Bay Capital Management LP bought a new position in Oasis Petroleum during the fourth quarter worth $227,000. Stephens Inc. AR boosted its position in Oasis Petroleum by 13.8% in the first quarter. Stephens Inc. AR now owns 16,050 shares of the energy producer’s stock worth $229,000 after buying an additional 1,950 shares during the period. Advisory Services Network LLC bought a new position in Oasis Petroleum during the first quarter worth $242,000. Finally, Atria Investments LLC boosted its position in Oasis Petroleum by 4.3% in the first quarter. Atria Investments LLC now owns 17,075 shares of the energy producer’s stock worth $243,000 after buying an additional 700 shares during the period. 98.72% of the stock is currently 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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