Williams Capital Increases Oasis Petroleum Inc. (OAS) Price Target to $14.00
Oasis Petroleum Inc. (NYSE:OAS) had its target price raised by stock analysts at Williams Capital from $13.00 to $14.00 in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the stock. Williams Capital’s price target suggests a potential upside of 32.45% from the company’s previous close.
OAS has been the topic of a number of other research reports. Vetr raised shares of Oasis Petroleum from a “buy” rating to a “strong-buy” rating and set a $11.50 target price on the stock in a research report on Tuesday, August 23rd. Zacks Investment Research raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, October 5th. BMO Capital Markets downgraded shares of Oasis Petroleum from an “outperform” rating to a “market perform” rating and set a $10.00 price objective on the stock. in a research report on Tuesday, August 23rd. They noted that the move was a valuation call. Nomura reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Oasis Petroleum in a research report on Monday, September 26th. Finally, Mizuho initiated coverage on shares of Oasis Petroleum in a research report on Wednesday, October 5th. They issued a “buy” rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.11.
Shares of Oasis Petroleum (NYSE:OAS) opened at 10.57 on Wednesday. Oasis Petroleum has a one year low of $3.40 and a one year high of $13.72. The firm’s 50-day moving average is $10.36 and its 200-day moving average is $9.50. The stock’s market capitalization is $1.91 billion.
Oasis Petroleum (NYSE:OAS) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $179 million for the quarter, compared to the consensus estimate of $184.47 million. Oasis Petroleum had a negative net margin of 17.91% and a negative return on equity of 1.22%. The company’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. On average, analysts expect that Oasis Petroleum will post ($0.62) earnings per share for the current fiscal year.
In related news, Chairman Thomas B. Nusz sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $8.92, for a total transaction of $1,784,000.00. Following the completion of the sale, the chairman now owns 1,590,772 shares in the company, valued at approximately $14,189,686.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Taylor L. Reid sold 25,000 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $9.42, for a total value of $235,500.00. Following the sale, the chief operating officer now owns 1,199,341 shares of the company’s stock, valued at approximately $11,297,792.22. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Oasis Petroleum by 1,169.4% in the second quarter. FMR LLC now owns 2,850,883 shares of the company’s stock worth $26,627,000 after buying an additional 2,626,300 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Oasis Petroleum during the first quarter worth approximately $18,652,000. Dimensional Fund Advisors LP increased its stake in shares of Oasis Petroleum by 109.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,465,955 shares of the company’s stock worth $41,714,000 after buying an additional 2,335,876 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Oasis Petroleum during the second quarter worth approximately $17,555,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Oasis Petroleum by 81.4% in the first quarter. UBS Asset Management Americas Inc. now owns 3,762,847 shares of the company’s stock worth $27,395,000 after buying an additional 1,689,060 shares in the last quarter. Hedge funds and other institutional investors own 89.80% of the company’s stock.
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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