Oasis Petroleum Inc. (OAS) Rating Lowered to Hold at Zacks Investment Research
Oasis Petroleum Inc. (NYSE:OAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas resources. The Company is currently focused on exploiting resource potential from the Bakken and Three Forks formations, which are present across a substantial majority of its acreage. Oasis Petroleum Inc. is based in Houston, Texas. “
Other equities analysts have also recently issued research reports about the company. Seaport Global Securities upgraded 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 report on Tuesday, August 30th. Jefferies Group reiterated a “buy” rating and issued a $13.00 target price on shares of Oasis Petroleum in a report on Thursday, August 4th. Williams Capital started coverage on Oasis Petroleum in a report on Monday, August 29th. They issued a “buy” rating and a $13.00 target price for the company. Citigroup Inc. lifted their target price on Oasis Petroleum from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Finally, Mizuho started coverage on Oasis Petroleum in a report on Wednesday, October 5th. They issued a “buy” rating and a $15.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Oasis Petroleum currently has a consensus rating of “Buy” and an average price target of $12.78.
Oasis Petroleum (NYSE:OAS) opened at 12.04 on Wednesday. Oasis Petroleum has a 12-month low of $3.40 and a 12-month high of $12.70. The firm has a 50-day moving average price of $11.35 and a 200-day moving average price of $9.88. The company’s market cap is $2.85 billion.
Oasis Petroleum (NYSE:OAS) last announced its earnings results on Monday, November 7th. The company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. The firm earned $177.13 million during the quarter, compared to analysts’ expectations of $186.51 million. Oasis Petroleum had a negative return on equity of 2.98% and a negative net margin of 27.57%. The company’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, equities research analysts forecast that Oasis Petroleum will post ($0.59) earnings per share for the current fiscal year.
In other Oasis Petroleum news, COO Taylor L. Reid sold 25,000 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $9.42, for a total transaction of $235,500.00. Following the transaction, the chief operating officer now owns 1,199,341 shares in the company, valued at $11,297,792.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Advisory Corp Spo sold 2,975,700 shares of the stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $11.56, for a total value of $34,399,092.00. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of OAS. FMR LLC boosted its position in shares of Oasis Petroleum by 1,169.4% in the second quarter. FMR LLC now owns 2,850,883 shares of the company’s stock worth $26,627,000 after buying an additional 2,626,300 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Oasis Petroleum during the first quarter worth approximately $18,652,000. Dimensional Fund Advisors LP boosted its position in shares of Oasis Petroleum by 109.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,465,955 shares of the company’s stock worth $41,714,000 after buying an additional 2,335,876 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Oasis Petroleum during the second quarter worth approximately $17,555,000. Finally, GMT Capital Corp boosted its position in shares of Oasis Petroleum by 279.1% in the third quarter. GMT Capital Corp now owns 2,171,300 shares of the company’s stock worth $24,905,000 after buying an additional 1,598,500 shares during the last quarter. Institutional investors own 90.03% 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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