Oasis Petroleum Inc. to Post Q3 2017 Earnings of ($0.04) Per Share, Jefferies Group Forecasts (OAS)
Oasis Petroleum Inc. (NYSE:OAS) – Research analysts at Jefferies Group dropped their Q3 2017 earnings per share (EPS) estimates for Oasis Petroleum in a report issued on Monday. Jefferies Group analyst M. Hsu now anticipates that the energy producer will post earnings per share of ($0.04) for the quarter, down from their previous forecast of ($0.03). Jefferies Group currently has a “Buy” rating and a $13.00 target price on the stock. Jefferies Group also issued estimates for Oasis Petroleum’s FY2017 earnings at ($0.15) EPS, Q1 2019 earnings at $0.08 EPS, Q2 2019 earnings at $0.08 EPS and Q3 2019 earnings at $0.09 EPS.
Oasis Petroleum (NYSE:OAS) last announced its earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $254.10 million during the quarter, compared to the consensus estimate of $255.41 million. Oasis Petroleum had a negative return on equity of 2.43% and a negative net margin of 5.16%. The company’s revenue was up 42.0% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share.
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Several other research analysts also recently commented on OAS. ValuEngine downgraded shares of Oasis Petroleum from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Mizuho reiterated a “hold” rating and issued a $10.00 target price on shares of Oasis Petroleum in a report on Friday, September 29th. BMO Capital Markets set a $11.00 target price on shares of Oasis Petroleum and gave the stock a “buy” rating in a report on Sunday, August 13th. Royal Bank Of Canada set a $14.00 target price on shares of Oasis Petroleum and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, BidaskClub downgraded shares of Oasis Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company’s stock. Oasis Petroleum currently has an average rating of “Hold” and a consensus price target of $13.90.
Shares of Oasis Petroleum (OAS) opened at 8.62 on Thursday. The stock’s 50 day moving average price is $8.16 and its 200 day moving average price is $9.50. Oasis Petroleum has a 52 week low of $6.69 and a 52 week high of $17.08. The firm’s market capitalization is $2.05 billion.
Several hedge funds have recently made changes to their positions in OAS. Bank of New York Mellon Corp lifted its position in shares of Oasis Petroleum by 90.4% during the second quarter. Bank of New York Mellon Corp now owns 5,755,177 shares of the energy producer’s stock worth $46,330,000 after purchasing an additional 2,732,234 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Oasis Petroleum during the second quarter worth approximately $17,572,000. Caymus Capital Partners L.P. raised its stake in shares of Oasis Petroleum by 50.2% during the second quarter. Caymus Capital Partners L.P. now owns 6,239,600 shares of the energy producer’s stock worth $50,229,000 after buying an additional 2,086,400 shares during the last quarter. State Street Corp raised its stake in shares of Oasis Petroleum by 24.3% during the second quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock worth $79,657,000 after buying an additional 1,931,992 shares during the last quarter. Finally, Precocity Capital LP bought a new stake in shares of Oasis Petroleum during the second quarter worth approximately $8,855,000. Institutional investors own 93.57% of the company’s stock.
In other news, VP Nickolas J. Lorentzatos sold 10,985 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 182,351 shares in the company, valued at $1,599,218.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taylor L. Reid sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 1,175,727 shares in the company, valued at $9,194,185.14. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Oasis Petroleum Company Profile
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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