Oasis Petroleum (NYSE:OAS) Downgraded by SunTrust Banks
SunTrust Banks lowered shares of Oasis Petroleum (NYSE:OAS) from a hold rating to a sell rating in a research report report published on Monday morning, Briefing.com Automated Import reports. SunTrust Banks also issued estimates for Oasis Petroleum’s Q3 2019 earnings at ($0.02) EPS, Q4 2019 earnings at ($0.02) EPS, FY2019 earnings at ($0.02) EPS, FY2020 earnings at $0.05 EPS and FY2021 earnings at ($0.11) EPS.
Several other research firms also recently weighed in on OAS. ValuEngine downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, May 28th. Morgan Stanley set a $23.00 price objective on Cabot Oil & Gas and gave the company a hold rating in a report on Monday, June 24th. Williams Capital restated a buy rating and issued a $9.00 price objective on shares of Oasis Petroleum in a report on Wednesday, May 8th. Citigroup decreased their price objective on Extraction Oil & Gas from $8.00 to $7.00 and set a buy rating for the company in a report on Tuesday, March 12th. Finally, Stifel Nicolaus set a $14.00 price objective on Oasis Petroleum and gave the company a buy rating in a report on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Oasis Petroleum currently has a consensus rating of Hold and a consensus target price of $12.38.
Shares of NYSE:OAS traded down $0.16 on Monday, hitting $5.23. 8,997,874 shares of the company’s stock were exchanged, compared to its average volume of 10,571,692. Oasis Petroleum has a 12 month low of $4.54 and a 12 month high of $14.57. The company has a market capitalization of $1.74 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.74 and a beta of 2.05. The stock’s 50 day simple moving average is $5.23. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.78 and a quick ratio of 0.73.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc grew its stake in shares of Oasis Petroleum by 1.7% during the third quarter. Vanguard Group Inc now owns 27,628,999 shares of the energy producer’s stock worth $391,779,000 after acquiring an additional 462,112 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Oasis Petroleum by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,523,088 shares of the energy producer’s stock valued at $119,023,000 after acquiring an additional 1,012,789 shares during the period. Oslo Asset Management AS lifted its holdings in Oasis Petroleum by 3.5% in the first quarter. Oslo Asset Management AS now owns 6,608,580 shares of the energy producer’s stock valued at $39,916,000 after acquiring an additional 224,600 shares during the period. Macquarie Group Ltd. lifted its holdings in Oasis Petroleum by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 4,844,484 shares of the energy producer’s stock valued at $26,790,000 after acquiring an additional 122,893 shares during the period. Finally, Perella Weinberg Partners Capital Management LP lifted its holdings in Oasis Petroleum by 16.1% in the first quarter. Perella Weinberg Partners Capital Management LP now owns 3,908,541 shares of the energy producer’s stock valued at $23,608,000 after acquiring an additional 540,604 shares during the period. Institutional investors and hedge funds own 91.86% of the company’s stock.
Oasis Petroleum Company Profile
Oasis Petroleum Inc, an independent exploration and production company, focuses on the acquisition and development of onshore unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin and the Texas region of the Delaware Basin, respectively. As of December 31, 2018, the company had 413,552 net leasehold acres in the Williston Basin; and 23,366 net leasehold acres in the Delaware Basin, as well as approximately 320.5 million barrels of oil equivalent of estimated net proved reserves.
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