Citigroup Inc. Lowers Oasis Petroleum Inc. (OAS) Price Target to $13.00
Oasis Petroleum Inc. (NYSE:OAS) had its target price reduced by research analysts at Citigroup Inc. from $16.00 to $13.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the energy producer’s stock. Citigroup Inc.’s target price points to a potential upside of 64.77% from the stock’s current price.
A number of other research analysts have also issued reports on the stock. ValuEngine lowered shares of Oasis Petroleum from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Williams Capital reiterated a “hold” rating and issued a $15.00 target price on shares of Oasis Petroleum in a research note on Monday, May 15th. BMO Capital Markets set a $18.00 target price on shares of Oasis Petroleum and gave the company a “buy” rating in a research note on Monday, May 8th. SunTrust Banks, Inc. upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and raised their target price for the company from $16.00 to $17.00 in a research note on Wednesday, May 3rd. Finally, Cowen and Company set a $14.00 target price on shares of Oasis Petroleum and gave the company a “buy” rating in a research note on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $15.19.
Shares of Oasis Petroleum (NYSE OAS) opened at 7.89 on Thursday. The company’s 50-day moving average is $9.70 and its 200-day moving average is $12.86. The stock’s market capitalization is $1.87 billion. Oasis Petroleum has a 12 month low of $6.56 and a 12 month high of $17.08.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Monday, May 8th. The energy producer reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. Oasis Petroleum had a negative net margin of 18.00% and a negative return on equity of 2.88%. The company had revenue of $285.10 million for the quarter, compared to analyst estimates of $252.72 million. During the same quarter in the prior year, the business posted ($0.18) EPS. Oasis Petroleum’s quarterly revenue was up 119.3% on a year-over-year basis. Equities research analysts expect that Oasis Petroleum will post ($0.09) earnings per share for the current fiscal year.
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In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 187,236 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $9.50, for a total value of $1,778,742.00. Following the completion of the transaction, the chairman now directly owns 1,469,546 shares of the company’s stock, valued at $13,960,687. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in OAS. DekaBank Deutsche Girozentrale increased its position in shares of Oasis Petroleum by 14.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,819 shares of the energy producer’s stock worth $164,000 after buying an additional 1,526 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Oasis Petroleum during the fourth quarter worth $227,000. Stephens Inc. AR increased its position in shares of Oasis Petroleum by 13.8% in the first quarter. Stephens Inc. AR now owns 16,050 shares of the energy producer’s stock worth $229,000 after buying an additional 1,950 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Oasis Petroleum during the first quarter worth $242,000. Finally, Atria Investments LLC increased its position in shares of Oasis Petroleum by 4.3% in the first quarter. Atria Investments LLC now owns 17,075 shares of the energy producer’s stock worth $243,000 after buying an additional 700 shares in the last quarter. 98.72% of the stock is owned by institutional investors.
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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