Oasis Petroleum Inc. (OAS) Debt Trading 1.3% Lower
An issue of Oasis Petroleum Inc. (NYSE:OAS) bonds fell 1.3% as a percentage of their face value during trading on Tuesday. The debt issue has a 6.875% coupon and is set to mature on January 15, 2023. The bonds in the issue are now trading at $96.00. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.
OAS has been the topic of several recent research reports. SunTrust Banks, Inc. raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the company from $16.00 to $17.00 in a report on Wednesday, May 3rd. Royal Bank Of Canada set a $19.00 price objective on shares of Oasis Petroleum and gave the company a “buy” rating in a report on Thursday, June 8th. UBS AG raised shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $14.00 to $13.00 in a report on Thursday, June 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $17.00 price objective on shares of Oasis Petroleum in a report on Wednesday, May 17th. Finally, BMO Capital Markets set a $18.00 price objective on shares of Oasis Petroleum and gave the company a “buy” rating in a report on Monday, May 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Oasis Petroleum currently has an average rating of “Hold” and an average target price of $14.56.
Oasis Petroleum Inc. (NYSE OAS) opened at 7.02 on Thursday. Oasis Petroleum Inc. has a 12 month low of $6.69 and a 12 month high of $17.08. The company’s market capitalization is $1.67 billion. The firm’s 50-day moving average is $7.64 and its 200-day moving average is $10.76.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings data on Wednesday, August 2nd. The energy producer reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. Oasis Petroleum had a negative return on equity of 2.43% and a negative net margin of 5.16%. The firm had revenue of $254.10 million for the quarter, compared to the consensus estimate of $255.41 million. During the same quarter last year, the business posted ($0.11) earnings per share. The firm’s revenue was up 42.0% compared to the same quarter last year. Equities analysts anticipate that Oasis Petroleum Inc. will post ($0.13) EPS for the current fiscal year.
In other Oasis Petroleum news, insider Taylor L. Reid sold 50,000 shares of Oasis Petroleum stock in a transaction on Friday, August 4th. The stock was sold at an average price of $7.82, for a total value of $391,000.00. Following the sale, the insider now owns 1,175,727 shares in the company, valued at $9,194,185.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Thomas B. Nusz sold 187,236 shares of Oasis Petroleum stock in a transaction 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 sale, the chairman now owns 1,469,546 shares in the company, valued at approximately $13,960,687. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake 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 worth $46,330,000 after buying an additional 2,732,234 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Oasis Petroleum during the second quarter worth $17,572,000. Caymus Capital Partners L.P. boosted its stake in shares of 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 worth $50,229,000 after buying an additional 2,086,400 shares during the last quarter. State Street Corp boosted its stake in shares of Oasis Petroleum by 24.3% in the second quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock worth $79,657,000 after buying an additional 1,931,992 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Oasis Petroleum during the first quarter worth $18,545,000. Institutional investors own 93.57% of the company’s stock.
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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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