Royal Bank Of Canada Reiterates “$14.00” Price Target for Oasis Petroleum Inc. (OAS)
OAS has been the subject of a number of other research reports. Williams Capital reissued a hold rating and issued a $15.00 price objective on shares of Oasis Petroleum in a report on Monday, May 15th. Cowen and Company set a $14.00 price target on shares of Oasis Petroleum and gave the stock a buy rating in a report on Monday, July 10th. Bank of America Corporation downgraded shares of Oasis Petroleum from a buy rating to a neutral rating and cut their price target for the stock from $20.00 to $16.00 in a report on Thursday, May 11th. SunTrust Banks, Inc. raised shares of Oasis Petroleum from a hold rating to a buy rating and upped their price target for the stock from $16.00 to $17.00 in a report on Wednesday, May 3rd. Finally, UBS AG raised shares of Oasis Petroleum from a neutral rating to a buy rating and cut their price target for the stock from $14.00 to $13.00 in a report on Thursday, June 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company’s stock. Oasis Petroleum presently has an average rating of Hold and an average price target of $14.71.
Shares of Oasis Petroleum (NYSE OAS) opened at 7.24 on Thursday. The company’s market capitalization is $1.72 billion. The company has a 50-day moving average price of $7.64 and a 200 day moving average price of $10.76. Oasis Petroleum has a one year low of $6.90 and a one year high of $17.08.
Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings data on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $254.10 million during the quarter, compared to the consensus estimate of $255.41 million. Oasis Petroleum had a negative net margin of 5.16% and a negative return on equity of 2.43%. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) EPS. On average, analysts forecast that Oasis Petroleum will post ($0.13) EPS for the current fiscal year.
In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 187,236 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $9.50, for a total value of $1,778,742.00. Following the completion of the transaction, the chairman now directly owns 1,469,546 shares in the company, valued at approximately $13,960,687. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Taylor L. Reid sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $7.82, for a total transaction of $391,000.00. Following the completion of the transaction, the insider now owns 1,175,727 shares of the company’s stock, valued at $9,194,185.14. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in OAS. Bank of New York Mellon Corp boosted its position in shares of Oasis Petroleum by 90.4% in the second quarter. Bank of New York Mellon Corp now owns 5,755,177 shares of the energy producer’s stock valued at $46,330,000 after buying an additional 2,732,234 shares during the period. Renaissance Technologies LLC purchased a new stake in Oasis Petroleum during the second quarter valued at $17,572,000. Caymus Capital Partners L.P. boosted its stake in Oasis Petroleum by 50.2% in the second quarter. Caymus Capital Partners L.P. now owns 6,239,600 shares of the energy producer’s stock valued at $50,229,000 after buying an additional 2,086,400 shares during the period. State Street Corp boosted its stake in Oasis Petroleum by 24.3% in the second quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock valued at $79,657,000 after buying an additional 1,931,992 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in Oasis Petroleum during the first quarter valued at $18,545,000. Hedge funds and other institutional investors own 98.52% 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, Well Services, and Midstream Services.
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