Oasis Petroleum (OAS) Price Target Increased to $11.00 by Analysts at Morgan Stanley

Oasis Petroleum (NYSE:OAS) had its target price upped by equities research analysts at Morgan Stanley from $9.00 to $11.00 in a report issued on Wednesday. The brokerage currently has an “equal weight” rating on the energy producer’s stock. Morgan Stanley’s target price points to a potential upside of 32.05% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus reiterated a “hold” rating and set a $11.00 target price on shares of Oasis Petroleum in a report on Sunday, September 3rd. Jefferies Group set a $13.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a report on Tuesday, August 29th. Evercore ISI upgraded Oasis Petroleum from an “in-line” rating to an “outperform” rating in a report on Friday, November 3rd. Goldman Sachs Group upgraded Oasis Petroleum from a “sell” rating to a “neutral” rating in a report on Thursday, October 19th. Finally, KeyCorp set a $11.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Oasis Petroleum currently has an average rating of “Hold” and a consensus price target of $12.82.

Oasis Petroleum (NYSE:OAS) traded down $1.73 on Wednesday, reaching $8.33. The company’s stock had a trading volume of 87,733,500 shares, compared to its average volume of 8,941,525. Oasis Petroleum has a fifty-two week low of $6.69 and a fifty-two week high of $16.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.76 and a quick ratio of 0.72.

Oasis Petroleum (NYSE:OAS) last posted its earnings results on Tuesday, November 7th. The energy producer reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Oasis Petroleum had a negative return on equity of 1.29% and a negative net margin of 5.23%. The firm had revenue of $304.70 million for the quarter, compared to the consensus estimate of $264.72 million. During the same quarter in the prior year, the business earned ($0.19) EPS. The business’s revenue for the quarter was up 71.9% on a year-over-year basis. equities research analysts forecast that Oasis Petroleum will post -0.09 EPS for the current fiscal year.

In other Oasis Petroleum news, VP Nickolas J. Lorentzatos sold 10,985 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $8.77, for a total transaction of $96,338.45. Following the sale, the vice president now directly owns 182,351 shares in the company, valued at approximately $1,599,218.27. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OAS. Teacher Retirement System of Texas lifted its holdings in shares of Oasis Petroleum by 6.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 18,688 shares of the energy producer’s stock valued at $150,000 after buying an additional 1,100 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Oasis Petroleum by 90.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,755,177 shares of the energy producer’s stock valued at $46,330,000 after buying an additional 2,732,234 shares during the period. Turner Investments LLC bought a new position in shares of Oasis Petroleum during the 2nd quarter valued at $536,000. Marshall Wace North America L.P. bought a new position in shares of Oasis Petroleum during the 2nd quarter valued at $167,000. Finally, William Blair Investment Management LLC lifted its holdings in shares of Oasis Petroleum by 21.4% during the 2nd quarter. William Blair Investment Management LLC now owns 1,579,190 shares of the energy producer’s stock valued at $12,712,000 after buying an additional 278,669 shares during the period. 93.94% of the stock is currently 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.

Analyst Recommendations for Oasis Petroleum (NYSE:OAS)