Insider Selling: Oasis Petroleum Inc. (OAS) Major Shareholder Sells 2,975,700 Shares of Stock
Oasis Petroleum Inc. (NYSE:OAS) major shareholder Advisory Corp Spo sold 2,975,700 shares of the company’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $11.56, for a total transaction of $34,399,092.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Oasis Petroleum Inc. (NYSE:OAS) opened at 11.59 on Friday. The stock’s market cap is $2.09 billion. The stock’s 50 day moving average price is $10.03 and its 200 day moving average price is $9.26. Oasis Petroleum Inc. has a 12-month low of $3.40 and a 12-month high of $14.15.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.04. The business had revenue of $179 million for the quarter, compared to analyst estimates of $184.47 million. Oasis Petroleum had a negative return on equity of 1.22% and a negative net margin of 17.91%. The company’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Analysts forecast that Oasis Petroleum Inc. will post ($0.62) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OAS. IFP Advisors Inc raised its position in shares of Oasis Petroleum by 0.9% in the second quarter. IFP Advisors Inc now owns 10,800 shares of the company’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Seven Eight Capital LLC acquired a new position in shares of Oasis Petroleum during the first quarter worth $126,000. Advisory Services Network LLC raised its position in shares of Oasis Petroleum by 10.5% in the second quarter. Advisory Services Network LLC now owns 13,700 shares of the company’s stock worth $128,000 after buying an additional 1,300 shares in the last quarter. Sanders Morris Harris Inc. raised its position in shares of Oasis Petroleum by 50.0% in the second quarter. Sanders Morris Harris Inc. now owns 15,000 shares of the company’s stock worth $140,000 after buying an additional 5,000 shares in the last quarter. Finally, Atria Investments LLC acquired a new position in shares of Oasis Petroleum during the second quarter worth $143,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on OAS shares. Raymond James Financial Inc. upgraded shares of Oasis Petroleum from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $14.00 to $17.00 in a report on Friday, August 5th. Ladenburg Thalmann upgraded shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, July 13th. Susquehanna upgraded shares of Oasis Petroleum from a “neutral” rating to a “positive” rating and set a $11.00 price objective on the stock in a report on Monday, August 1st. Vetr downgraded shares of Oasis Petroleum from a “strong-buy” rating to a “buy” rating and set a $11.75 price objective on the stock. in a report on Monday, June 27th. Finally, Jefferies Group restated a “buy” rating and set a $13.00 price objective on shares of Oasis Petroleum in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $11.94.
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, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.
Receive News & Stock Ratings for Oasis Petroleum Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oasis Petroleum Inc. and related stocks with our FREE daily email newsletter.