Oasis Petroleum Inc. (OAS) to Post FY2016 Earnings of ($0.58) Per Share, KeyCorp Forecasts
Oasis Petroleum Inc. (NYSE:OAS) – Investment analysts at KeyCorp boosted their FY2016 EPS estimates for shares of Oasis Petroleum in a research note issued on Tuesday. KeyCorp analyst D. Deckelbaum now expects that the brokerage will earn ($0.58) per share for the year, up from their previous forecast of ($0.59). KeyCorp currently has a “Overweight” rating and a $18.00 target price on the stock. KeyCorp also issued estimates for Oasis Petroleum’s Q4 2016 earnings at ($0.13) EPS, Q1 2017 earnings at ($0.11) EPS, Q2 2017 earnings at ($0.09) EPS, Q3 2017 earnings at ($0.07) EPS, Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at ($0.33) EPS and Q1 2018 earnings at $0.07 EPS.
Several other research firms have also recently issued reports on OAS. Bank of America Corp. raised Oasis Petroleum from a “neutral” rating to a “buy” rating in a research note on Monday, October 24th. Jefferies Group set a $15.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a research note on Tuesday, October 18th. Vetr raised 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 raised 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 cut 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 investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $13.09.
Shares of Oasis Petroleum (NYSE:OAS) opened at 13.15 on Thursday. The stock’s market capitalization is $3.11 billion. Oasis Petroleum has a 52 week low of $3.40 and a 52 week high of $13.50. The company’s 50 day moving average price is $11.53 and its 200-day moving average price is $10.01.
Oasis Petroleum (NYSE:OAS) last issued 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. 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 firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS.
In other Oasis Petroleum news, major shareholder Advisory Corp Spo sold 2,975,700 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $11.56, for a total transaction of $34,399,092.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Taylor L. Reid sold 25,000 shares of the business’s 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 transaction, the chief operating officer now owns 1,199,341 shares in the company, valued at approximately $11,297,792.22. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OAS. JPMorgan Chase & Co. boosted its stake in Oasis Petroleum by 49.0% in the first quarter. JPMorgan Chase & Co. now owns 151,501 shares of the company’s stock worth $1,103,000 after buying an additional 49,832 shares in the last quarter. State Street Corp boosted its stake in 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 in the last quarter. Renaissance Technologies LLC purchased a new stake in Oasis Petroleum during the first quarter worth $18,652,000. Panagora Asset Management Inc. purchased a new stake in Oasis Petroleum during the first quarter worth $3,862,000. Finally, Seven Eight Capital LLC purchased a new stake in Oasis Petroleum during the first quarter worth $126,000. Institutional investors and hedge funds own 72.41% 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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