Oasis Petroleum Inc. (NYSE:OAS) shares saw unusually-strong trading volume on Friday . Approximately 6,957,797 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 9,171,891 shares.The stock last traded at $8.52 and had previously closed at $8.55.

Several equities analysts recently issued reports on OAS shares. Vetr cut shares of Oasis Petroleum from a “strong-buy” rating to a “buy” rating and set a $9.00 target price for the company. in a research note on Wednesday, March 23rd. Seaport Global Securities upgraded shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday, March 31st. Topeka Capital Markets upped their price objective on shares of Oasis Petroleum from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 10th. Jefferies Group upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $12.00 in a research report on Tuesday, May 10th. Finally, Citigroup Inc. upgraded shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $13.00 in a research report on Thursday, June 2nd. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.62.

The stock has a 50 day moving average of $9.97 and a 200 day moving average of $7.79. The firm’s market cap is $1.56 billion.

Oasis Petroleum (NYSE:OAS) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.01. During the same period in the previous year, the business earned $0.28 earnings per share. The firm earned $130.30 million during the quarter, compared to analyst estimates of $175.01 million. The firm’s revenue was down 27.8% on a year-over-year basis. Equities analysts expect that Oasis Petroleum Inc. will post ($0.70) EPS for the current fiscal year.

In related news, COO Taylor L. Reid sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $10.15, for a total value of $507,500.00. Following the completion of the transaction, the chief operating officer now owns 1,231,981 shares of the company’s stock, valued at approximately $12,504,607.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Other hedge funds and institutional investors have recently made changes to their positions in the company. Hodges Capital Management Inc. increased its position in shares of Oasis Petroleum by 3.4% in the fourth quarter. Hodges Capital Management Inc. now owns 1,298,813 shares of the company’s stock valued at $9,572,000 after buying an additional 42,852 shares during the last quarter. Marshall Wace LLP increased its position in shares of Oasis Petroleum by 651.0% in the fourth quarter. Marshall Wace LLP now owns 1,049,836 shares of the company’s stock valued at $7,737,000 after buying an additional 910,039 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Oasis Petroleum by 15.7% in the fourth quarter. Schroder Investment Management Group now owns 988,465 shares of the company’s stock valued at $7,285,000 after buying an additional 133,811 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Oasis Petroleum by 9.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,115,795 shares of the company’s stock valued at $22,963,000 after buying an additional 266,030 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Oasis Petroleum by 21.7% in the fourth quarter. Bank of Montreal Can now owns 478,196 shares of the company’s stock valued at $3,524,000 after buying an additional 85,263 shares during the last quarter.

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, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.