Oasis Petroleum Inc. (OAS) Shares Gap Down to $10.49
Shares of Oasis Petroleum Inc. (NYSE:OAS) gapped down prior to trading on Wednesday . The stock had previously closed at $11.17, but opened at $10.49. Oasis Petroleum shares last traded at $10.04, with a volume of 9334700 shares trading hands.
OAS has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.00 price objective (down from $10.50) on shares of Oasis Petroleum in a research report on Monday, September 25th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Oasis Petroleum in a research report on Tuesday, October 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective (up from $12.00) on shares of Oasis Petroleum in a research report on Thursday, November 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Oasis Petroleum in a research report on Tuesday, October 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Oasis Petroleum in a research report on Saturday, September 16th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Oasis Petroleum currently has a consensus rating of “Hold” and a consensus target price of $13.27.
The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 0.77.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Tuesday, November 7th. The energy producer reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. Oasis Petroleum had a negative return on equity of 1.29% and a negative net margin of 5.23%. The company had revenue of $304.70 million for the quarter, compared to analyst estimates of $264.72 million. During the same quarter last year, the company posted ($0.19) EPS. The company’s revenue for the quarter was up 71.9% compared to the same quarter last year. research analysts expect that Oasis Petroleum Inc. will post -0.12 earnings per share for the current fiscal year.
In other news, VP Nickolas J. Lorentzatos sold 10,985 shares of Oasis Petroleum stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $8.77, for a total value of $96,338.45. Following the transaction, the vice president now owns 182,351 shares in the company, valued at approximately $1,599,218.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Oasis Petroleum by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,521,951 shares of the energy producer’s stock worth $157,152,000 after acquiring an additional 125,706 shares during the last quarter. State Street Corp grew its position in Oasis Petroleum by 24.3% during the 2nd quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock worth $79,657,000 after acquiring an additional 1,931,992 shares during the last quarter. Alliancebernstein L.P. grew its position in Oasis Petroleum by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,855,946 shares of the energy producer’s stock worth $55,190,000 after acquiring an additional 270,140 shares during the last quarter. Bank of New York Mellon Corp grew its position in Oasis Petroleum by 10.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,331,449 shares of the energy producer’s stock worth $57,743,000 after acquiring an additional 576,272 shares during the last quarter. Finally, Caymus Capital Partners L.P. grew its position in Oasis Petroleum by 50.2% during the 2nd quarter. Caymus Capital Partners L.P. now owns 6,239,600 shares of the energy producer’s stock worth $50,229,000 after acquiring an additional 2,086,400 shares during the last quarter. Institutional investors and hedge funds own 93.37% of the company’s stock.
Oasis Petroleum Company Profile
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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