Oasis Petroleum Inc. (OAS) Trading 4.7% Higher
Oasis Petroleum Inc. (NYSE:OAS) traded up 4.7% on Friday . The company traded as high as $10.04 and last traded at $9.94, with a volume of 5,653,821 shares trading hands. The stock had previously closed at $9.49.
A number of equities research analysts recently weighed in on the stock. Seaport Global Securities raised shares of Oasis Petroleum from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $10.00 to $12.00 in a research note on Tuesday. Williams Capital initiated coverage on shares of Oasis Petroleum in a research note on Monday. They set a “buy” rating and a $13.00 price target on the stock. Vetr raised shares of Oasis Petroleum from a “buy” rating to a “strong-buy” rating and set a $11.50 price target on the stock in a research note on Tuesday, August 23rd. BMO Capital Markets downgraded shares of Oasis Petroleum from an “outperform” rating to a “market perform” rating and set a $10.00 price target on the stock. in a research note on Tuesday, August 23rd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lifted their price target on shares of Oasis Petroleum from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, August 15th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $11.47.
The firm has a 50-day moving average price of $8.77 and a 200 day moving average price of $8.56. The firm’s market capitalization is $1.80 billion.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. During the same quarter in the previous year, the business earned $0.38 EPS. The business earned $179 million during the quarter, compared to analysts’ expectations of $184.47 million. The business’s revenue for the quarter was down 22.2% on a year-over-year basis. On average, equities research analysts forecast that Oasis Petroleum Inc. will post ($0.62) earnings per share for the current year.
In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 200,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $8.92, for a total value of $1,784,000.00. Following the sale, the chairman now owns 1,590,772 shares in the company, valued at $14,189,686.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
An institutional investor recently raised its position in Oasis Petroleum stock. Ameriprise Financial Inc. boosted its position in Oasis Petroleum Inc. (NYSE:OAS) by 59.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,938 shares of the company’s stock after buying an additional 70,644 shares during the period. Ameriprise Financial Inc. owned approximately 0.14% of Oasis Petroleum worth $1,393,000 at the end of the most recent 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.
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