ValuEngine Upgrades Oasis Petroleum Inc. (OAS) to “Hold”
ValuEngine upgraded shares of Oasis Petroleum Inc. (NYSE:OAS) from a sell rating to a hold rating in a research note issued to investors on Friday.
Several other equities analysts have also recently weighed in on OAS. Citigroup Inc. cut their price objective on Oasis Petroleum from $13.00 to $12.00 and set a buy rating on the stock in a report on Friday, July 21st. Royal Bank Of Canada reiterated a buy rating and set a $14.00 price objective on shares of Oasis Petroleum in a report on Thursday, July 20th. Cowen and Company set a $10.00 price objective on Oasis Petroleum and gave the company a buy rating in a report on Wednesday, July 19th. Bank of America Corporation started coverage on Oasis Petroleum in a report on Wednesday, July 19th. They set a neutral rating and a $9.00 price objective on the stock. Finally, William Blair upgraded Oasis Petroleum from a hold rating to a buy rating in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $14.42.
Oasis Petroleum (OAS) opened at 7.78 on Friday. The firm’s market cap is $1.85 billion. The stock has a 50 day moving average price of $7.98 and a 200-day moving average price of $11.64. Oasis Petroleum has a one year low of $6.56 and a one year high of $17.08.
Oasis Petroleum (NYSE:OAS) last issued its earnings results on Monday, May 8th. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. Oasis Petroleum had a negative return on equity of 2.88% and a negative net margin of 18.00%. The firm had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $252.72 million. During the same quarter last year, the business earned ($0.18) earnings per share. The company’s revenue was up 119.3% compared to the same quarter last year. Analysts predict that Oasis Petroleum will post ($0.15) EPS for the current fiscal year.
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In related news, Chairman Thomas B. Nusz sold 187,236 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $9.50, for a total transaction of $1,778,742.00. Following the transaction, the chairman now directly owns 1,469,546 shares of the company’s stock, valued at approximately $13,960,687. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of OAS. Norges Bank acquired a new position in Oasis Petroleum during the fourth quarter worth $29,719,000. Caymus Capital Partners L.P. raised its position in Oasis Petroleum by 48.5% in the first quarter. Caymus Capital Partners L.P. now owns 4,153,200 shares of the energy producer’s stock worth $59,225,000 after buying an additional 1,356,200 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Oasis Petroleum during the first quarter worth $18,545,000. Bank of Montreal Can raised its position in Oasis Petroleum by 110.7% in the first quarter. Bank of Montreal Can now owns 2,332,894 shares of the energy producer’s stock worth $33,267,000 after buying an additional 1,225,628 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Oasis Petroleum by 21.4% in the first quarter. Alliancebernstein L.P. now owns 6,585,806 shares of the energy producer’s stock worth $93,914,000 after buying an additional 1,161,691 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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