Renaissance Technologies LLC Acquires 305,600 Shares of Oasis Petroleum Inc. (OAS)
Renaissance Technologies LLC raised its position in Oasis Petroleum Inc. (NYSE:OAS) by 20.8% during the second quarter, Holdings Channel reports. The firm owned 1,777,400 shares of the energy producer’s stock after buying an additional 305,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Oasis Petroleum were worth $23,053,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. BlueMountain Capital Management LLC increased its position in shares of Oasis Petroleum by 744.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 3,903,089 shares of the energy producer’s stock valued at $50,623,000 after purchasing an additional 3,440,937 shares during the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of Oasis Petroleum in the 2nd quarter valued at approximately $688,000. Employees Retirement System of Texas increased its position in shares of Oasis Petroleum by 298.9% in the 2nd quarter. Employees Retirement System of Texas now owns 367,000 shares of the energy producer’s stock valued at $4,760,000 after purchasing an additional 275,000 shares during the last quarter. Neuburgh Advisers LLC purchased a new stake in shares of Oasis Petroleum in the 2nd quarter valued at approximately $241,000. Finally, Federated Investors Inc. PA purchased a new stake in shares of Oasis Petroleum in the 2nd quarter valued at approximately $7,013,000. 97.20% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on OAS shares. Jefferies Financial Group downgraded shares of Oasis Petroleum from a “buy” rating to a “hold” rating and dropped their price objective for the company from $14.56 to $14.00 in a research report on Monday, June 11th. Zacks Investment Research raised shares of Oasis Petroleum from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research report on Wednesday, June 6th. Morgan Stanley increased their price objective on shares of Oasis Petroleum from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Susquehanna Bancshares downgraded shares of Oasis Petroleum from a “positive” rating to a “neutral” rating and set a $14.00 target price on the stock. in a research report on Monday, July 9th. They noted that the move was a valuation call. Finally, Williams Capital reaffirmed a “buy” rating and issued a $18.00 target price on shares of Oasis Petroleum in a research report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.30.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Monday, August 6th. The energy producer reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The firm had revenue of $501.30 million during the quarter, compared to analysts’ expectations of $404.75 million. Oasis Petroleum had a negative net margin of 14.48% and a positive return on equity of 2.53%. Oasis Petroleum’s quarterly revenue was up 97.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. research analysts forecast that Oasis Petroleum Inc. will post 0.46 EPS for the current fiscal year.
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 Permian Basin. As of December 31, 2017, the company had 502,660 net leasehold acres in the Williston Basin; and approximately 312.2 million barrels of oil equivalent of estimated net proved reserves.
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