FY2017 EPS Estimates for Oasis Petroleum Inc. (OAS) Raised by Analyst
Oasis Petroleum Inc. (NYSE:OAS) – Investment analysts at Capital One Financial Corp. upped their FY2017 earnings per share estimates for shares of Oasis Petroleum in a research report issued to clients and investors on Thursday. Capital One Financial Corp. analyst P. Johnston now forecasts that the brokerage will post earnings of ($0.63) per share for the year, up from their prior forecast of ($0.66).
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.04. Oasis Petroleum had a negative net margin of 17.91% and a negative return on equity of 1.22%. The firm had revenue of $179 million for the quarter, compared to the consensus estimate of $184.47 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was down 22.2% compared to the same quarter last year.
OAS has been the subject of several other research reports. Ladenburg Thalmann upgraded shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, July 13th. Citigroup Inc. upgraded shares of Oasis Petroleum to a “strong-buy” rating and boosted their price objective for the stock from $14.00 to $17.00 in a research report on Friday, August 5th. Vetr downgraded shares of Oasis Petroleum from a “buy” rating to a “hold” rating and set a $10.33 price objective for the company. in a research report on Wednesday, May 25th. Raymond James Financial Inc. upgraded shares of Oasis Petroleum from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $14.00 to $17.00 in a research report on Friday, August 5th. Finally, Simmons began coverage on shares of Oasis Petroleum in a research report on Friday, June 10th. They set a “neutral” rating and a $13.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Oasis Petroleum has an average rating of “Hold” and an average price target of $11.43.
Shares of Oasis Petroleum (NYSE:OAS) traded up 7.21% during mid-day trading on Monday, reaching $9.52. 12,330,218 shares of the company were exchanged. The stock’s market capitalization is $1.72 billion. Oasis Petroleum has a 12 month low of $3.40 and a 12 month high of $14.15. The stock has a 50 day moving average price of $9.40 and a 200-day moving average price of $9.00.
In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $8.92, for a total value of $1,784,000.00. Following the transaction, the chairman now directly owns 1,590,772 shares in the company, valued at approximately $14,189,686.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. raised its position in Oasis Petroleum by 22.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,448,756 shares of the company’s stock worth $32,387,000 after buying an additional 819,288 shares during the period. Hermes Investment Management Ltd. raised its position in Oasis Petroleum by 8.3% in the second quarter. Hermes Investment Management Ltd. now owns 3,718,752 shares of the company’s stock worth $34,733,000 after buying an additional 285,100 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Oasis Petroleum during the first quarter worth about $1,217,000. NorthRock Partners LLC purchased a new position in Oasis Petroleum during the first quarter worth about $218,000. Finally, Canada Pension Plan Investment Board raised its position in Oasis Petroleum by 783.1% in the first quarter. Canada Pension Plan Investment Board now owns 371,800 shares of the company’s stock worth $2,707,000 after buying an additional 329,700 shares during the period. Institutional investors own 89.73% of the company’s stock.
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, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.
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