Oasis Petroleum Inc. (OAS) Forecasted to Post Q3 2017 Earnings of ($0.02) Per Share
Oasis Petroleum Inc. (NYSE:OAS) – Equities research analysts at Seaport Global Securities increased their Q3 2017 earnings per share (EPS) estimates for shares of Oasis Petroleum in a report issued on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the energy producer will earn ($0.02) per share for the quarter, up from their previous forecast of ($0.04). Seaport Global Securities also issued estimates for Oasis Petroleum’s FY2017 earnings at ($0.12) EPS.
Several other research firms also recently commented on OAS. Mizuho reiterated a “hold” rating and issued a $10.00 target price on shares of Oasis Petroleum in a research report on Friday, September 29th. Jefferies Group LLC restated a “buy” rating and set a $13.00 price objective on shares of Oasis Petroleum in a research report on Tuesday, October 3rd. Morgan Stanley lowered their price objective on Oasis Petroleum from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 18th. Cowen and Company restated a “buy” rating and set a $10.00 price objective on shares of Oasis Petroleum in a research report on Sunday. Finally, Piper Jaffray Companies set a $14.00 price objective on Oasis Petroleum and gave the stock a “buy” rating in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $13.26.
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Shares of Oasis Petroleum (NYSE OAS) opened at 8.55 on Thursday. The company has a 50-day moving average price of $8.51 and a 200-day moving average price of $9.12. The firm’s market capitalization is $2.03 billion. Oasis Petroleum has a 12 month low of $6.69 and a 12 month high of $17.08.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 company earned ($0.11) earnings per share.
In other Oasis Petroleum news, VP Nickolas J. Lorentzatos sold 10,985 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $8.77, for a total value of $96,338.45. Following the completion of the sale, the vice president now owns 182,351 shares of the company’s stock, valued at $1,599,218.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Taylor L. Reid sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were 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 approximately $9,194,185.14. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Federated Investors Inc. PA acquired a new stake in Oasis Petroleum in the second quarter valued at approximately $121,000. Teacher Retirement System of Texas grew its stake in Oasis Petroleum by 2.9% in the first quarter. Teacher Retirement System of Texas now owns 17,588 shares of the energy producer’s stock valued at $251,000 after acquiring an additional 497 shares during the period. Advisory Services Network LLC grew its stake in Oasis Petroleum by 14.1% in the second quarter. Advisory Services Network LLC now owns 19,400 shares of the energy producer’s stock valued at $156,000 after acquiring an additional 2,400 shares during the period. Bourgeon Capital Management LLC acquired a new stake in Oasis Petroleum in the second quarter valued at approximately $161,000. Finally, Highbridge Capital Management LLC grew its stake in Oasis Petroleum by 100.6% in the first quarter. Highbridge Capital Management LLC now owns 20,462 shares of the energy producer’s stock valued at $292,000 after acquiring an additional 10,262 shares during the period. 93.64% of the stock is 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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