Cowen and Company Reaffirms “Buy” Rating for Oasis Petroleum Inc. (OAS)
Oasis Petroleum Inc. (NYSE:OAS)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a report issued on Friday. They presently have a $12.00 target price on the energy producer’s stock. Cowen and Company’s price objective would indicate a potential upside of 11.32% from the stock’s previous close.
A number of other research firms have also weighed in on OAS. KeyCorp reaffirmed an “overweight” rating on shares of Oasis Petroleum in a report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $13.00 target price (up previously from $12.00) on shares of Oasis Petroleum in a report on Thursday. Evercore ISI raised shares of Oasis Petroleum from an “in-line” rating to an “outperform” rating in a report on Friday, November 3rd. Mizuho reaffirmed a “hold” rating and set a $10.00 target price on shares of Oasis Petroleum in a report on Friday, September 29th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Oasis Petroleum in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. Oasis Petroleum has an average rating of “Hold” and an average target price of $13.27.
Shares of Oasis Petroleum (NYSE OAS) opened at $10.78 on Friday. Oasis Petroleum has a 12-month low of $6.69 and a 12-month high of $17.08. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.80 and a current ratio of 0.85.
Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings results on Tuesday, November 7th. The energy producer reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $304.70 million for the quarter, compared to analyst estimates of $264.72 million. Oasis Petroleum had a negative net margin of 5.23% and a negative return on equity of 1.31%. The company’s quarterly revenue was up 71.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. equities research analysts expect that Oasis Petroleum will post -0.14 EPS for the current year.
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In related news, VP Nickolas J. Lorentzatos sold 10,985 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 182,351 shares in the company, valued at approximately $1,599,218.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of OAS. KCG Holdings Inc. bought a new position in Oasis Petroleum in the 1st quarter worth $296,000. Nuveen Asset Management LLC raised its holdings in Oasis Petroleum by 33.5% in the 1st quarter. Nuveen Asset Management LLC now owns 80,910 shares of the energy producer’s stock worth $1,154,000 after purchasing an additional 20,309 shares in the last quarter. Bank of Montreal Can raised its holdings in Oasis Petroleum by 0.4% in the 2nd quarter. Bank of Montreal Can now owns 2,342,131 shares of the energy producer’s stock worth $18,854,000 after purchasing an additional 9,237 shares in the last quarter. Creative Planning raised its holdings in Oasis Petroleum by 362.0% in the 2nd quarter. Creative Planning now owns 112,634 shares of the energy producer’s stock worth $907,000 after purchasing an additional 88,252 shares in the last quarter. Finally, Mizuho Securities USA LLC bought a new position in Oasis Petroleum in the 2nd quarter worth $431,000. Institutional investors and hedge funds own 94.21% 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, Well Services, and Midstream Services.
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