Short Interest in Oasis Petroleum Inc. (OAS) Rises By 6.8%
Oasis Petroleum Inc. (NYSE:OAS) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 44,645,398 shares, a growth of 6.8% from the July 31st total of 41,804,463 shares. Based on an average daily volume of 8,264,385 shares, the days-to-cover ratio is currently 5.4 days. Approximately 16.3% of the company’s shares are short sold.
A number of equities research analysts have commented on the company. Royal Bank of Canada restated a “buy” rating and issued a $15.00 target price on shares of Oasis Petroleum in a research report on Friday, July 13th. KeyCorp set a $13.00 target price on Oasis Petroleum and gave the company a “buy” rating in a research report on Tuesday, May 8th. Morgan Stanley upgraded Oasis Petroleum from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $12.52 to $19.00 in a research report on Wednesday, May 23rd. KLR Group restated a “buy” rating and issued a $18.00 target price on shares of Oasis Petroleum in a research report on Monday, August 20th. Finally, Stifel Nicolaus lifted their target price on Oasis Petroleum from $10.00 to $10.50 and gave the company a “hold” rating in a research report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.30.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Oasis Petroleum in the second quarter valued at $734,000. Oakbrook Investments LLC acquired a new position in Oasis Petroleum during the 2nd quarter worth $131,000. CIBC Asset Management Inc acquired a new position in Oasis Petroleum during the 2nd quarter worth $150,000. World Asset Management Inc acquired a new position in Oasis Petroleum during the 2nd quarter worth $171,000. Finally, Sippican Capital Advisors acquired a new position in Oasis Petroleum during the 2nd quarter worth $174,000. 97.21% of the stock is owned by institutional investors and hedge funds.
Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings data on Monday, August 6th. The energy producer reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.03. Oasis Petroleum had a positive return on equity of 2.53% and a negative net margin of 14.48%. The business had revenue of $501.30 million during the quarter, compared to analysts’ expectations of $404.75 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was up 97.3% on a year-over-year basis. research analysts anticipate that Oasis Petroleum will post 0.45 EPS for the current year.
About Oasis Petroleum
Oasis Petroleum Inc, an independent exploration and production company, focuses on the acquisition and development of onshore unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin, and Permian Basin. As of December 31, 2017, the company had 502,660 net leasehold acres in the Williston Basin; and approximately 312.2 million barrels of oil equivalent of estimated net proved reserves.
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