Oasis Petroleum Inc. (OAS) Shares Down 3.5%
Shares of Oasis Petroleum Inc. (NYSE:OAS) were down 3.5% during trading on Monday . The company traded as low as $9.61 and last traded at $9.91, with a volume of 6,374,507 shares. The stock had previously closed at $10.27.
A number of analysts have commented on OAS shares. Topeka Capital Markets boosted their price objective on Oasis Petroleum from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 10th. Cantor Fitzgerald lowered Oasis Petroleum from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $8.00 to $9.00 in a report on Tuesday, April 26th. Seaport Global Securities lowered Oasis Petroleum from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Tuesday, June 7th. Simmons started coverage on Oasis Petroleum in a report on Friday, June 10th. They set a “neutral” rating and a $13.00 price objective for the company. Finally, Vetr downgraded Oasis Petroleum from a “strong-buy” rating to a “buy” rating and set a $11.75 target price on the stock. in a research note on Monday, June 27th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.38.
The company’s market cap is $1.78 billion. The stock’s 50-day moving average price is $8.60 and its 200 day moving average price is $8.34.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The firm had revenue of $179 million for the quarter, compared to analysts’ expectations of $184.47 million. The firm’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. Equities analysts anticipate that Oasis Petroleum Inc. will post ($0.63) EPS for the current fiscal year.
In related news, COO Taylor L. Reid sold 50,000 shares of Oasis Petroleum stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $10.15, for a total transaction of $507,500.00. Following the transaction, the chief operating officer now owns 1,231,981 shares in the company, valued at approximately $12,504,607.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Thomas B. Nusz sold 200,000 shares of Oasis Petroleum stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $8.92, for a total transaction of $1,784,000.00. Following the transaction, the chairman now owns 1,590,772 shares in the company, valued at approximately $14,189,686.24. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in Oasis Petroleum by 9.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,115,795 shares of the company’s stock worth $22,963,000 after buying an additional 266,030 shares during the period. New York State Common Retirement Fund boosted its position in Oasis Petroleum by 1.5% in the fourth quarter. New York State Common Retirement Fund now owns 264,575 shares of the company’s stock worth $1,950,000 after buying an additional 3,900 shares during the period. Finally, Swiss National Bank boosted its position in Oasis Petroleum by 1.2% in the fourth quarter. Swiss National Bank now owns 165,500 shares of the company’s stock worth $1,220,000 after buying an additional 1,900 shares during the period.
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.
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