Oasis Petroleum (OAS) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Oasis Petroleum (NYSE:OAS) from a buy rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas resources. The Company is currently focused on exploiting resource potential from the Bakken and Three Forks formations, which are present across a substantial majority of its acreage. Oasis Petroleum Inc. is based in Houston, Texas. “
Several other research firms also recently weighed in on OAS. KeyCorp restated an overweight rating on shares of Oasis Petroleum in a report on Wednesday, November 8th. Royal Bank of Canada restated an outperform rating and set a $13.00 price objective (up previously from $12.00) on shares of Oasis Petroleum in a report on Thursday, November 9th. Cowen restated a buy rating and set a $12.00 price objective on shares of Oasis Petroleum in a report on Friday, November 10th. SunTrust Banks downgraded shares of Oasis Petroleum from a buy rating to a hold rating and set a $11.00 price objective on the stock. in a report on Tuesday, December 12th. Finally, Raymond James Financial set a $14.00 price objective on shares of Oasis Petroleum and gave the stock a buy rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $11.73.
Oasis Petroleum (NYSE:OAS) last released its quarterly earnings data on Tuesday, February 27th. The energy producer reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.07. Oasis Petroleum had a net margin of 9.92% and a return on equity of 0.16%. The firm had revenue of $404.47 million for the quarter, compared to the consensus estimate of $328.78 million. analysts predict that Oasis Petroleum will post 0.21 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. Encap Energy Capital Fund Viii L.P. purchased a new stake in Oasis Petroleum during the fourth quarter worth about $386,860,000. GMT Capital Corp purchased a new stake in Oasis Petroleum during the third quarter worth about $19,487,000. Keeley Teton Advisors LLC purchased a new stake in Oasis Petroleum during the fourth quarter worth about $13,909,000. Victory Capital Management Inc. increased its holdings in Oasis Petroleum by 70.3% during the third quarter. Victory Capital Management Inc. now owns 3,248,238 shares of the energy producer’s stock worth $29,624,000 after buying an additional 1,340,371 shares during the last quarter. Finally, Luminus Management LLC increased its holdings in Oasis Petroleum by 55.9% during the fourth quarter. Luminus Management LLC now owns 3,584,787 shares of the energy producer’s stock worth $30,148,000 after buying an additional 1,284,787 shares during the last quarter. Institutional investors own 89.05% 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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