Jefferies Group LLC Reiterates $13.00 Price Target for Oasis Petroleum Inc. (OAS)
Jefferies Group LLC set a $13.00 price target on Oasis Petroleum Inc. (NYSE:OAS) in a research note published on Tuesday. The firm currently has a buy rating on the energy producer’s stock. Jefferies Group also issued estimates for Oasis Petroleum’s Q3 2017 earnings at ($0.03) EPS, Q4 2017 earnings at $0.00 EPS, FY2017 earnings at ($0.13) EPS, Q1 2018 earnings at $0.01 EPS, Q2 2018 earnings at $0.01 EPS, Q3 2018 earnings at $0.04 EPS, Q4 2018 earnings at $0.05 EPS and FY2018 earnings at $0.12 EPS.
A number of other research firms also recently commented on OAS. BMO Capital Markets set a $18.00 price objective on Oasis Petroleum and gave the stock a buy rating in a report on Monday, May 8th. Williams Capital restated a hold rating and issued a $15.00 price objective on shares of Oasis Petroleum in a report on Tuesday, May 9th. Bank of America Corporation downgraded Oasis Petroleum from a buy rating to a neutral rating and dropped their price objective for the stock from $20.00 to $16.00 in a report on Thursday, May 11th. SunTrust Banks, Inc. upgraded Oasis Petroleum from a hold rating to a buy rating and increased their price objective for the stock from $16.00 to $17.00 in a report on Wednesday, May 3rd. Finally, Credit Suisse Group restated a neutral rating and issued a $19.00 price objective on shares of Oasis Petroleum in a report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $14.56.
Oasis Petroleum (OAS) traded down 1.23% during midday trading on Tuesday, reaching $7.21. 1,222,229 shares of the company’s stock traded hands. Oasis Petroleum has a 52 week low of $6.90 and a 52 week high of $17.08. The stock’s market capitalization is $1.71 billion. The company’s 50-day moving average price is $7.58 and its 200 day moving average price is $10.56.
Oasis Petroleum (NYSE:OAS) last released its quarterly earnings data on Wednesday, August 2nd. The energy producer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company posted ($0.11) earnings per share. The firm’s revenue was up 42.0% on a year-over-year basis. On average, equities research analysts expect that Oasis Petroleum will post ($0.13) earnings per share for the current year.
In related news, insider Taylor L. Reid sold 50,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 1,175,727 shares of the company’s stock, valued at $9,194,185.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Thomas B. Nusz sold 187,236 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was 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 of the company’s stock, valued at $13,960,687. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted its position in shares of Oasis Petroleum by 6.1% in the first quarter. Nationwide Fund Advisors now owns 260,360 shares of the energy producer’s stock valued at $3,713,000 after buying an additional 14,995 shares during the period. First Mercantile Trust Co. boosted its position in shares of Oasis Petroleum by 17.5% in the first quarter. First Mercantile Trust Co. now owns 19,780 shares of the energy producer’s stock valued at $282,000 after buying an additional 2,940 shares during the period. Adams Diversified Equity Fund Inc. boosted its position in shares of Oasis Petroleum by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 64,500 shares of the energy producer’s stock valued at $920,000 after buying an additional 1,800 shares during the period. Advisory Services Network LLC purchased a new position in shares of Oasis Petroleum during the first quarter valued at approximately $242,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Oasis Petroleum by 14.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,819 shares of the energy producer’s stock valued at $164,000 after buying an additional 1,526 shares during the period. 93.57% of the stock is owned by hedge funds and other institutional investors.
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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