Jefferies Group LLC Reiterates Buy Rating for Oasis Petroleum Inc. (OAS)
Oasis Petroleum Inc. (NYSE:OAS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research report issued on Tuesday. They presently have a $13.00 target price on the energy producer’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 43.17% from the stock’s previous close.
OAS has been the topic of a number of other reports. BidaskClub lowered shares of Oasis Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. UBS AG raised shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and decreased their price target for the company from $14.00 to $13.00 in a research note on Thursday, June 8th. Cowen and Company set a $14.00 price target on Oasis Petroleum and gave the company a “buy” rating in a report on Monday, July 10th. Mizuho reiterated a “hold” rating and issued a $10.00 price target on shares of Oasis Petroleum in a report on Friday. Finally, Seaport Global Securities cut Oasis Petroleum from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $7.00 in a research note on Wednesday, June 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. Oasis Petroleum has a consensus rating of “Hold” and a consensus target price of $14.06.
Shares of Oasis Petroleum (NYSE OAS) traded down 0.66% on Tuesday, hitting $9.08. The stock had a trading volume of 8,857,878 shares. The company has a 50-day moving average of $7.90 and a 200-day moving average of $9.68. The company’s market cap is $2.16 billion. Oasis Petroleum has a 52-week low of $6.69 and a 52-week high of $17.08.
Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $254.10 million for the quarter, compared to analysts’ expectations of $255.41 million. Oasis Petroleum had a negative net margin of 5.16% and a negative return on equity of 2.43%. The business’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. On average, equities analysts anticipate that Oasis Petroleum will post ($0.14) EPS for the current fiscal year.
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In other news, VP Nickolas J. Lorentzatos sold 10,985 shares of Oasis Petroleum stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $8.77, for a total transaction of $96,338.45. Following the completion of the sale, the vice president now directly owns 182,351 shares in the company, valued at $1,599,218.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Taylor L. Reid sold 50,000 shares of Oasis Petroleum stock in a transaction on Friday, August 4th. The stock was sold at an average price of $7.82, for a total transaction of $391,000.00. Following the sale, the insider now owns 1,175,727 shares of the company’s stock, valued at $9,194,185.14. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Karp Capital Management Corp acquired a new position in shares of Oasis Petroleum in the 1st quarter valued at $503,000. Prudential Financial Inc. raised its stake in Oasis Petroleum by 0.3% in the 1st quarter. Prudential Financial Inc. now owns 662,093 shares of the energy producer’s stock worth $9,441,000 after acquiring an additional 2,070 shares during the last quarter. Cipher Capital LP purchased a new position in Oasis Petroleum in the 1st quarter worth $458,000. American International Group Inc. raised its stake in Oasis Petroleum by 37.9% in the 1st quarter. American International Group Inc. now owns 141,213 shares of the energy producer’s stock worth $2,014,000 after acquiring an additional 38,825 shares during the last quarter. Finally, Credit Agricole S A purchased a new position in Oasis Petroleum in the 1st quarter worth $2,755,000. 93.57% of the stock is currently owned by hedge funds and other 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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