Jefferies Group Analysts Increase Earnings Estimates for Oasis Petroleum Inc. (OAS)
Oasis Petroleum Inc. (NYSE:OAS) – Stock analysts at Jefferies Group increased their FY2016 earnings estimates for Oasis Petroleum in a research note issued to investors on Thursday. Jefferies Group analyst J. Wolff now forecasts that the brokerage will post earnings of ($0.56) per share for the year, up from their prior forecast of ($0.59). Jefferies Group currently has a “Buy” rating and a $15.00 target price on the stock. Jefferies Group also issued estimates for Oasis Petroleum’s Q4 2016 earnings at ($0.12) EPS, Q1 2017 earnings at ($0.10) EPS, Q2 2017 earnings at ($0.08) EPS, Q3 2017 earnings at ($0.06) EPS, Q4 2017 earnings at ($0.03) EPS and FY2017 earnings at ($0.27) EPS.
OAS has been the subject of a number of other research reports. Bank of America Corp. upgraded Oasis Petroleum from a “neutral” rating to a “buy” rating in a report on Monday, October 24th. Vetr upgraded Oasis Petroleum from a “buy” rating to a “strong-buy” rating and set a $11.50 price objective for the company in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, October 5th. BMO Capital Markets downgraded Oasis Petroleum from an “outperform” rating to a “market perform” rating and set a $10.00 price objective for the company. in a report on Tuesday, August 23rd. They noted that the move was a valuation call. Finally, Nomura restated a “hold” rating and set a $17.00 price target on shares of Oasis Petroleum in a report on Monday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Oasis Petroleum has an average rating of “Buy” and an average price target of $12.78.
Oasis Petroleum (NYSE:OAS) opened at 12.37 on Monday. The company’s 50 day moving average is $11.06 and its 200-day moving average is $9.82. Oasis Petroleum has a 1-year low of $3.40 and a 1-year high of $12.51. The firm’s market cap is $2.92 billion.
Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.17) EPS for the quarter, beating the Zacks’ 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 business had revenue of $177.13 million for the quarter, compared to analyst estimates of $186.51 million. During the same quarter last year, the business earned $0.09 earnings per share. The business’s revenue for the quarter was down 10.2% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Hermes Investment Management Ltd. boosted its position in shares of Oasis Petroleum by 8.3% in the second quarter. Hermes Investment Management Ltd. now owns 3,718,752 shares of the company’s stock worth $34,733,000 after buying an additional 285,100 shares during the period. Bank of Montreal Can bought a new position in shares of Oasis Petroleum during the second quarter worth approximately $3,970,000. Seven Eight Capital LLC bought a new position in shares of Oasis Petroleum during the first quarter worth approximately $126,000. BlackRock Fund Advisors boosted its position in shares of Oasis Petroleum by 24.8% in the first quarter. BlackRock Fund Advisors now owns 4,775,460 shares of the company’s stock worth $34,765,000 after buying an additional 949,589 shares during the period. Finally, State Street Corp boosted its position 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 period. Hedge funds and other institutional investors own 90.03% of the company’s stock.
In other news, COO Taylor L. Reid sold 25,000 shares of Oasis Petroleum stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $9.42, for a total value of $235,500.00. Following the completion of the transaction, the chief operating officer now owns 1,199,341 shares in the company, valued at approximately $11,297,792.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Advisory Corp Spo sold 2,975,700 shares of Oasis Petroleum 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. 2.50% of the stock is owned by insiders.
Oasis Petroleum Company Profile
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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