Oasis Petroleum Inc. Forecasted to Post FY2016 Earnings of ($0.57) Per Share (OAS)
Oasis Petroleum Inc. (NYSE:OAS) – Williams Capital raised their FY2016 EPS estimates for Oasis Petroleum in a report issued on Tuesday. Williams Capital analyst G. Sorbara now expects that the firm will post earnings per share of ($0.57) for the year, up from their prior estimate of ($0.66). Williams Capital has a “Buy” rating and a $14.00 price target on the stock. Williams Capital also issued estimates for Oasis Petroleum’s Q4 2016 earnings at ($0.12) EPS, Q2 2017 earnings at ($0.10) EPS, Q3 2017 earnings at ($0.08) EPS, Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at ($0.35) EPS, Q1 2018 earnings at $0.07 EPS, Q2 2018 earnings at $0.09 EPS and Q3 2018 earnings at $0.14 EPS.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. Oasis Petroleum had a negative net margin of 27.57% and a negative return on equity of 2.98%. The company earned $177.13 million during the quarter, compared to the consensus estimate of $186.51 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The firm’s revenue was down 10.2% compared to the same quarter last year.
Other equities research analysts also recently issued reports about the stock. Seaport Global Securities upgraded shares of Oasis Petroleum from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $10.00 to $12.00 in a research report on Tuesday, August 30th. Jefferies Group reiterated a “buy” rating and set a $13.00 target price on shares of Oasis Petroleum in a research report on Thursday, August 4th. Citigroup Inc. lifted their target price on shares of Oasis Petroleum from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Wednesday, October 5th. Finally, Mizuho initiated coverage on shares of Oasis Petroleum in a research report on Wednesday, October 5th. They set a “buy” rating and a $15.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $12.78.
Oasis Petroleum (NYSE:OAS) opened at 11.69 on Thursday. The company’s 50-day moving average is $11.06 and its 200 day moving average is $9.82. Oasis Petroleum has a one year low of $3.40 and a one year high of $12.51. The firm’s market cap is $2.12 billion.
Several large investors have recently made changes to their positions in OAS. Vanguard Group Inc. increased its stake in shares of Oasis Petroleum by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,745,058 shares of the company’s stock worth $119,038,000 after buying an additional 251,252 shares during the last quarter. State Street Corp increased its stake in shares of Oasis Petroleum by 21.8% in the first quarter. State Street Corp now owns 7,765,817 shares of the company’s stock worth $56,536,000 after buying an additional 1,388,971 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Oasis Petroleum by 9.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,188,940 shares of the company’s stock worth $59,517,000 after buying an additional 447,371 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Oasis Petroleum by 0.4% in the second quarter. BlackRock Fund Advisors now owns 4,792,923 shares of the company’s stock worth $44,766,000 after buying an additional 17,463 shares during the last quarter. Finally, Think Investments LP increased its stake in shares of Oasis Petroleum by 2.2% in the second quarter. Think Investments LP now owns 4,688,538 shares of the company’s stock worth $42,857,000 after buying an additional 100,000 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the stock in a transaction dated 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 can be accessed through this hyperlink. Also, COO Taylor L. Reid sold 25,000 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $9.42, for a total transaction of $235,500.00. Following the completion of the sale, the chief operating officer now directly owns 1,199,341 shares in the company, valued at $11,297,792.22. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
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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