FY2018 EPS Estimates for Oasis Petroleum Inc. (OAS) Reduced by Analyst
Oasis Petroleum Inc. (NYSE:OAS) – Stock analysts at Williams Capital dropped their FY2018 earnings per share (EPS) estimates for Oasis Petroleum in a note issued to investors on Tuesday. Williams Capital analyst G. Sorbara now forecasts that the energy producer will post earnings of $0.41 per share for the year, down from their prior forecast of $0.42. Williams Capital has a “Buy” rating and a $13.00 price target on the stock. Williams Capital also issued estimates for Oasis Petroleum’s FY2019 earnings at $1.14 EPS.
Oasis Petroleum (NYSE:OAS) last issued its earnings results on Monday, May 8th. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. Oasis Petroleum had a negative return on equity of 2.88% and a negative net margin of 18.00%. The company had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $252.72 million. During the same period last year, the business earned ($0.18) EPS. Oasis Petroleum’s quarterly revenue was up 119.3% compared to the same quarter last year.
OAS has been the topic of several other research reports. UBS AG raised Oasis Petroleum from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $14.00 to $13.00 in a research note on Thursday, June 8th. Royal Bank Of Canada restated a “buy” rating and set a $14.00 price target on shares of Oasis Petroleum in a report on Thursday. Cowen and Company set a $10.00 price objective on Oasis Petroleum and gave the company a “buy” rating in a research note on Wednesday. Bank of America Corporation started coverage on Oasis Petroleum in a research note on Wednesday. They issued a “neutral” rating and a $9.00 price objective for the company. Finally, BMO Capital Markets raised Oasis Petroleum from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $14.26 to $18.00 in a research note on Friday, March 31st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $14.45.
Oasis Petroleum (NYSE:OAS) traded down 4.58% during midday trading on Wednesday, hitting $7.50. The stock had a trading volume of 9,297,706 shares. The firm’s market cap is $1.78 billion. The firm has a 50 day moving average of $8.34 and a 200 day moving average of $12.06. Oasis Petroleum has a 52 week low of $6.56 and a 52 week high of $17.08.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Oasis Petroleum during the second quarter worth $509,000. Creative Planning raised its stake in shares of Oasis Petroleum by 1.3% in the first quarter. Creative Planning now owns 24,382 shares of the energy producer’s stock worth $348,000 after buying an additional 323 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Oasis Petroleum during the fourth quarter worth approximately $2,127,000. Teacher Retirement System of Texas raised its stake in shares of Oasis Petroleum by 2.9% in the first quarter. Teacher Retirement System of Texas now owns 17,588 shares of the energy producer’s stock worth $251,000 after buying an additional 497 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Oasis Petroleum during the fourth quarter worth approximately $29,719,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.
In other news, Chairman Thomas B. Nusz sold 187,236 shares of Oasis Petroleum stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $9.50, for a total transaction of $1,778,742.00. Following the completion of the sale, the chairman now owns 1,469,546 shares in the company, valued at approximately $13,960,687. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.
Oasis Petroleum Company Profile
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, Well Services, and Midstream Services.
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