Short Interest in Oasis Petroleum Inc. (OAS) Rises By 10.5%
Oasis Petroleum Inc. (NYSE:OAS) saw a large growth in short interest in August. As of August 15th, there was short interest totalling 46,439,103 shares, a growth of 10.5% from the July 31st total of 42,038,868 shares. Based on an average trading volume of 11,088,480 shares, the short-interest ratio is currently 4.2 days. Approximately 20.0% of the company’s stock are sold short.
Shares of Oasis Petroleum (OAS) opened at 7.39 on Friday. The company has a 50 day moving average of $7.57 and a 200-day moving average of $10.51. Oasis Petroleum has a 52 week low of $6.90 and a 52 week high of $17.08. The company’s market cap is $1.75 billion.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) 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 during the quarter, compared to analyst estimates of $255.41 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, equities research analysts expect that Oasis Petroleum will post ($0.13) earnings per share for the current fiscal year.
In other news, insider Taylor L. Reid sold 50,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were 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 approximately $9,194,185.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Thomas B. Nusz sold 187,236 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $9.50, for a total transaction of $1,778,742.00. Following the completion of the transaction, the chairman now owns 1,469,546 shares of the company’s stock, valued at approximately $13,960,687. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Hellman Jordan Management Co. Inc. MA purchased a new position in shares of Oasis Petroleum during the second quarter worth approximately $509,000. Caymus Capital Partners L.P. raised its position in shares of Oasis Petroleum by 50.2% in the second quarter. Caymus Capital Partners L.P. now owns 6,239,600 shares of the energy producer’s stock worth $50,229,000 after buying an additional 2,086,400 shares during the last quarter. Bellwether Investment Group LLC raised its position in shares of Oasis Petroleum by 7.7% in the second quarter. Bellwether Investment Group LLC now owns 20,566 shares of the energy producer’s stock worth $166,000 after buying an additional 1,463 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Oasis Petroleum by 2.9% in the first quarter. Teacher Retirement System of Texas now owns 17,588 shares of the energy producer’s stock worth $251,000 after buying an additional 497 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Oasis Petroleum during the first quarter worth approximately $296,000. Institutional investors and hedge funds own 93.57% of the company’s stock.
A number of analysts recently weighed in on the stock. UBS AG upgraded shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $14.00 to $13.00 in a research note on Thursday, June 8th. Jefferies Group LLC restated a “buy” rating and set a $17.00 price objective on shares of Oasis Petroleum in a research report on Wednesday, May 17th. Williams Capital restated a “hold” rating and set a $15.00 price objective on shares of Oasis Petroleum in a research report on Monday, May 15th. BidaskClub downgraded shares of Oasis Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company set a $14.00 price objective on shares of Oasis Petroleum and gave the stock a “buy” rating in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company’s stock. Oasis Petroleum has an average rating of “Hold” and a consensus price target of $14.56.
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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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