Short Interest in Oasis Petroleum Inc. (OAS) Rises By 10.5%
Oasis Petroleum Inc. (NYSE:OAS) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 46,439,103 shares, a growth of 10.5% from the July 31st total of 42,038,868 shares. Based on an average trading volume of 11,088,480 shares, the days-to-cover ratio is presently 4.2 days. Currently, 20.0% of the shares of the company are sold short.
Shares of Oasis Petroleum (NYSE OAS) opened at 6.95 on Wednesday. The firm’s market capitalization is $1.65 billion. Oasis Petroleum has a 52 week low of $6.70 and a 52 week high of $17.08. The stock has a 50 day moving average price of $7.64 and a 200-day moving average price of $10.76.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Oasis Petroleum had a negative return on equity of 2.43% and a negative net margin of 5.16%. The firm had revenue of $254.10 million during the quarter, compared to analyst estimates of $255.41 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue was up 42.0% compared to the same quarter last year. On average, equities research analysts forecast that Oasis Petroleum will post ($0.13) earnings per share for the current year.
Several equities research analysts have recently weighed in on the company. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price objective on shares of Oasis Petroleum in a research report on Wednesday, May 17th. Williams Capital reissued a “hold” rating and issued a $15.00 price objective on shares of Oasis Petroleum in a research report on Monday, May 15th. UBS AG raised Oasis Petroleum from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $14.00 to $13.00 in a research report on Thursday, June 8th. BidaskClub cut Oasis Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company set a $14.00 price objective on Oasis Petroleum and gave the company a “buy” rating in a research report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.56.
In other news, insider Taylor L. Reid sold 50,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $7.82, for a total value of $391,000.00. Following the completion of the sale, the insider now directly owns 1,175,727 shares of the company’s stock, valued at $9,194,185.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Thomas B. Nusz sold 187,236 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $9.50, for a total value of $1,778,742.00. Following the completion of the sale, the chairman now directly owns 1,469,546 shares of the company’s stock, valued at $13,960,687. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of OAS. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $283,596,000 after buying an additional 249,264 shares during the period. Vanguard Group Inc. raised its stake in shares of Oasis Petroleum by 0.6% in the second quarter. Vanguard Group Inc. now owns 19,521,951 shares of the energy producer’s stock valued at $157,152,000 after buying an additional 125,706 shares during the period. State Street Corp raised its stake in shares of Oasis Petroleum by 24.3% in the second quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock valued at $79,657,000 after buying an additional 1,931,992 shares during the period. Alliancebernstein L.P. raised its stake in shares of Oasis Petroleum by 4.1% in the second quarter. Alliancebernstein L.P. now owns 6,855,946 shares of the energy producer’s stock valued at $55,190,000 after buying an additional 270,140 shares during the period. Finally, Caymus Capital Partners L.P. raised its stake in shares of Oasis Petroleum by 50.2% in the second quarter. Caymus Capital Partners L.P. now owns 6,239,600 shares of the energy producer’s stock valued at $50,229,000 after buying an additional 2,086,400 shares during the period. 93.57% of the stock is owned by hedge funds and other institutional investors.
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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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