Oasis Petroleum Inc. (NYSE:OAS) shares dropped 5.6% during mid-day trading on Friday . The stock traded as low as $8.29 and last traded at $8.40. Approximately 11,346,700 shares traded hands during mid-day trading, an increase of 29% from the average daily volume of 8,829,750 shares. The stock had previously closed at $8.90.

OAS has been the topic of several recent research reports. 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. Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.00 target price on shares of Oasis Petroleum in a research note on Sunday, September 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $14.00 target price on shares of Oasis Petroleum in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Oasis Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, Williams Capital set a $13.00 target price on shares of Oasis Petroleum and gave the company a “buy” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. Oasis Petroleum has an average rating of “Hold” and a consensus target price of $13.90.

The firm’s market cap is $1.99 billion. The stock’s 50 day moving average price is $8.05 and its 200-day moving average price is $9.60.

Oasis Petroleum (NYSE:OAS) last issued its earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Oasis Petroleum had a negative return on equity of 2.43% and a negative net margin of 5.16%. The company had revenue of $254.10 million for the quarter, compared to analysts’ expectations of $255.41 million. During the same period last year, the business earned ($0.11) EPS. Oasis Petroleum’s quarterly revenue was up 42.0% compared to the same quarter last year. Analysts predict that Oasis Petroleum Inc. will post ($0.16) EPS for the current fiscal year.

In related 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 value of $96,338.45. Following the transaction, 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 available through the SEC website. Also, insider Taylor L. Reid sold 50,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $7.82, for a total value of $391,000.00. Following the completion of the transaction, the insider now owns 1,175,727 shares in the company, valued at $9,194,185.14. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of OAS. Bank of New York Mellon Corp lifted its holdings in shares of Oasis Petroleum by 90.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,755,177 shares of the energy producer’s stock worth $46,330,000 after purchasing an additional 2,732,234 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Oasis Petroleum in the 2nd quarter worth $17,572,000. Caymus Capital Partners L.P. lifted its holdings in shares of Oasis Petroleum by 50.2% in the 2nd quarter. Caymus Capital Partners L.P. now owns 6,239,600 shares of the energy producer’s stock worth $50,229,000 after purchasing an additional 2,086,400 shares in the last quarter. State Street Corp lifted its holdings in shares of Oasis Petroleum by 24.3% in the 2nd quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock worth $79,657,000 after purchasing an additional 1,931,992 shares in the last quarter. Finally, Precocity Capital LP bought a new position in shares of Oasis Petroleum in the 2nd quarter worth $8,855,000. Institutional investors own 93.57% of the company’s stock.

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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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