Goldman Sachs Group, Inc. (The) Upgrades Oasis Petroleum Inc. (OAS) to “Neutral”
Oasis Petroleum Inc. (NYSE:OAS) was upgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday.
Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $14.00 target price on shares of Oasis Petroleum in a research note on Thursday, July 20th. Cowen and Company set a $10.00 target price on shares of Oasis Petroleum and gave the company a “buy” rating in a research note on Wednesday, July 19th. Citigroup Inc. cut their target price on shares of Oasis Petroleum from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 target price on shares of Oasis Petroleum in a research note on Thursday, July 6th. Finally, BMO Capital Markets set a $11.00 target price on shares of Oasis Petroleum and gave the company a “buy” rating in a research note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have issued a buy rating to the company. Oasis Petroleum currently has a consensus rating of “Buy” and an average target price of $13.83.
Oasis Petroleum (NYSE OAS) traded down 1.38% during trading on Thursday, hitting $8.58. The company had a trading volume of 5,547,472 shares. The stock has a 50-day moving average of $8.37 and a 200-day moving average of $9.32. Oasis Petroleum has a one year low of $6.69 and a one year high of $17.08. The stock’s market capitalization is $2.04 billion.
Oasis Petroleum (NYSE:OAS) last issued its earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Oasis Petroleum had a negative net margin of 5.16% and a negative return on equity of 2.43%. The business had revenue of $254.10 million during the quarter, compared to the consensus estimate of $255.41 million. During the same period last year, the business posted ($0.11) EPS. Oasis Petroleum’s revenue was up 42.0% on a year-over-year basis. On average, equities analysts anticipate that Oasis Petroleum will post ($0.15) EPS for the current year.
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In related news, insider Taylor L. Reid sold 50,000 shares of Oasis Petroleum stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $7.82, for a total value of $391,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Nickolas J. Lorentzatos sold 10,985 shares of Oasis Petroleum stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $8.77, for a total transaction of $96,338.45. Following the completion of the transaction, the vice president now directly owns 182,351 shares in the company, valued at $1,599,218.27. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Bellwether Investment Group LLC increased its stake in Oasis Petroleum by 7.7% in the second quarter. Bellwether Investment Group LLC now owns 20,566 shares of the energy producer’s stock valued at $166,000 after acquiring an additional 1,463 shares during the last quarter. Hellman Jordan Management Co. Inc. MA bought a new position in Oasis Petroleum in the second quarter valued at approximately $509,000. Westpac Banking Corp increased its stake in Oasis Petroleum by 16.1% in the second quarter. Westpac Banking Corp now owns 462,423 shares of the energy producer’s stock valued at $3,723,000 after acquiring an additional 64,023 shares during the last quarter. Caymus Capital Partners L.P. increased 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 acquiring an additional 2,086,400 shares during the last quarter. Finally, Piermont Capital Management Inc. bought a new position in Oasis Petroleum in the second quarter valued at approximately $1,728,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.
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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