Deutsche Bank AG Raises Oasis Petroleum Inc. (OAS) Price Target to $12.00
Oasis Petroleum Inc. (NYSE:OAS) had its price objective upped by Deutsche Bank AG from $11.00 to $12.00 in a research note issued to investors on Wednesday morning. The firm currently has a hold rating on the stock.
Several other research analysts have also recently issued reports on OAS. Simmons reaffirmed a hold rating on shares of Oasis Petroleum in a report on Sunday, June 12th. Cantor Fitzgerald reaffirmed a hold rating on shares of Oasis Petroleum in a report on Sunday, May 22nd. Vetr raised shares of Oasis Petroleum from a hold rating to a buy rating and set a $11.33 target price for the company in a report on Thursday, June 2nd. Morgan Stanley reaffirmed a hold rating and issued a $12.00 target price on shares of Oasis Petroleum in a report on Friday, August 5th. Finally, Piper Jaffray Cos. assumed coverage on shares of Oasis Petroleum in a report on Friday, June 10th. They issued a neutral rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Oasis Petroleum currently has a consensus rating of Hold and a consensus target price of $11.43.
Shares of Oasis Petroleum (NYSE:OAS) opened at 9.15 on Wednesday. The firm has a 50-day moving average of $9.34 and a 200 day moving average of $8.98. The stock’s market capitalization is $1.65 billion. Oasis Petroleum has a 1-year low of $3.40 and a 1-year high of $14.15.
Oasis Petroleum (NYSE:OAS) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.04. The business earned $179 million during the quarter, compared to analysts’ expectations of $184.47 million. Oasis Petroleum had a negative net margin of 17.91% and a negative return on equity of 1.22%. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Analysts predict that Oasis Petroleum will post ($0.62) EPS for the current year.
In other news, Chairman Thomas B. Nusz sold 200,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 1,590,772 shares of the company’s stock, valued at approximately $14,189,686.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Oasis Petroleum during the fourth quarter worth approximately $10,013,000. Smith Affiliated Capital Corp. boosted its stake in shares of Oasis Petroleum by 285.7% in the first quarter. Smith Affiliated Capital Corp. now owns 27,000 shares of the company’s stock worth $565,000 after buying an additional 20,000 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of Oasis Petroleum by 34.4% in the first quarter. Teachers Advisors Inc. now owns 294,246 shares of the company’s stock worth $2,142,000 after buying an additional 75,283 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Oasis Petroleum by 175.7% in the first quarter. Prudential Financial Inc. now owns 1,212,183 shares of the company’s stock worth $8,825,000 after buying an additional 772,460 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its stake in shares of Oasis Petroleum by 135.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 282,972 shares of the company’s stock worth $2,060,000 after buying an additional 162,612 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.
About Oasis Petroleum
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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