Jefferies Group Equities Analysts Cut Earnings Estimates for Oasis Petroleum Inc. (OAS)
Oasis Petroleum Inc. (NYSE:OAS) – Analysts at Jefferies Group dropped their Q3 2018 earnings estimates for Oasis Petroleum in a report released on Thursday. Jefferies Group analyst M. Hsu now anticipates that the energy producer will earn $0.01 per share for the quarter, down from their prior forecast of $0.03. Jefferies Group currently has a “Buy” rating and a $13.00 target price on the stock. Jefferies Group also issued estimates for Oasis Petroleum’s Q4 2018 earnings at $0.01 EPS, FY2018 earnings at $0.02 EPS, Q1 2019 earnings at $0.07 EPS and FY2019 earnings at $0.34 EPS.
Other equities analysts have also issued research reports about the company. Royal Bank Of Canada set a $14.00 price target on Oasis Petroleum and gave the company a “buy” rating in a research note on Thursday, August 24th. BMO Capital Markets set a $11.00 price target on Oasis Petroleum and gave the company a “buy” rating in a research note on Sunday, August 13th. Williams Capital set a $13.00 price target on Oasis Petroleum and gave the company a “buy” rating in a research note on Thursday, August 3rd. Citigroup Inc. decreased their price target on Oasis Petroleum from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, Piper Jaffray Companies set a $14.00 price objective on Oasis Petroleum and gave the stock a “buy” rating in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $13.27.
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Oasis Petroleum (OAS) opened at $9.95 on Friday. Oasis Petroleum has a 52 week low of $6.69 and a 52 week high of $17.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 0.76.
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.
Several large investors have recently made changes to their positions in the company. Amalgamated Bank lifted its stake in shares of Oasis Petroleum by 1.1% in the 2nd quarter. Amalgamated Bank now owns 29,623 shares of the energy producer’s stock valued at $238,000 after purchasing an additional 323 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Oasis Petroleum by 5.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 20,664 shares of the energy producer’s stock valued at $166,000 after purchasing an additional 1,089 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Oasis Petroleum by 6.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,688 shares of the energy producer’s stock valued at $150,000 after purchasing an additional 1,100 shares during the period. Bellwether Investment Group LLC lifted its stake in shares of Oasis Petroleum by 7.7% in the 2nd quarter. Bellwether Investment Group LLC now owns 20,566 shares of the energy producer’s stock valued at $166,000 after purchasing an additional 1,463 shares during the period. Finally, Energy Opportunities Capital Management LLC lifted its stake in shares of Oasis Petroleum by 2.8% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 75,808 shares of the energy producer’s stock valued at $610,000 after purchasing an additional 2,062 shares during the period. 93.37% of the stock is currently owned by institutional investors.
In other news, VP Nickolas J. Lorentzatos sold 10,985 shares of the business’s stock in a transaction dated 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 directly owns 182,351 shares of the company’s stock, valued at approximately $1,599,218.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.
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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