Oasis Petroleum Inc. (OAS) Stock Rating Upgraded by Wunderlich
Oasis Petroleum Inc. (NYSE:OAS) was upgraded by research analysts at Wunderlich from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $14.00 price objective on the stock, up from their previous price objective of $13.00. Wunderlich’s price objective would suggest a potential upside of 16.67% from the company’s previous close.
OAS has been the topic of a number of other research reports. Bank of America Corp. raised Oasis Petroleum from a “neutral” rating to a “buy” rating in a research report on Monday, October 24th. Jefferies Group set a $15.00 target price on shares of Oasis Petroleum and gave the stock a “buy” rating in a research note on Tuesday, October 18th. Vetr upgraded shares of Oasis Petroleum from a “buy” rating to a “strong-buy” rating and set a $11.50 target price for the company in a research note on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Wednesday, October 5th. Finally, BMO Capital Markets downgraded shares of Oasis Petroleum from an “outperform” rating to a “market perform” rating and set a $10.00 target price for the company. in a research note on Tuesday, August 23rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Oasis Petroleum has a consensus rating of “Buy” and an average price target of $12.78.
Oasis Petroleum (NYSE:OAS) opened at 12.00 on Wednesday. The firm’s 50-day moving average price is $11.01 and its 200 day moving average price is $9.81. Oasis Petroleum has a 52 week low of $3.40 and a 52 week high of $12.51. The firm’s market cap is $2.17 billion.
Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. Oasis Petroleum had a negative return on equity of 2.98% and a negative net margin of 27.57%. The business had revenue of $177.13 million for the quarter, compared to analyst estimates of $186.51 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. The company’s revenue was down 10.2% on a year-over-year basis. Equities analysts forecast that Oasis Petroleum will post ($0.62) earnings per share for the current fiscal year.
In other news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $11.56, for a total value of $34,399,092.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Taylor L. Reid sold 25,000 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $9.42, for a total transaction of $235,500.00. Following the completion of the transaction, the chief operating officer now directly owns 1,199,341 shares in the company, valued at approximately $11,297,792.22. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of OAS. IFP Advisors Inc increased 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 approximately $126,000. Advisory Services Network LLC increased 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. Stephens Inc. AR increased its position in shares of Oasis Petroleum by 17.0% in the third quarter. Stephens Inc. AR now owns 11,700 shares of the company’s stock worth $134,000 after buying an additional 1,700 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in shares of Oasis Petroleum during the third quarter worth approximately $135,000. 90.03% 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, 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.
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