Oasis Petroleum Inc. (OAS) Shares Gap Up to $7.39
Shares of Oasis Petroleum Inc. (NYSE:OAS) gapped up before the market opened on Tuesday . The stock had previously closed at $7.20, but opened at $7.39. Oasis Petroleum shares last traded at $7.57, with a volume of 10,595,888 shares changing hands.
Several brokerages recently issued reports on OAS. BMO Capital Markets set a $18.00 target price on shares of Oasis Petroleum and gave the company a “buy” rating in a research report on Monday, May 8th. Williams Capital reiterated a “hold” rating and issued a $15.00 price target on shares of Oasis Petroleum in a research report on Tuesday, May 9th. Bank of America Corporation lowered shares of Oasis Petroleum from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $16.00 in a research report on Thursday, May 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 price target on shares of Oasis Petroleum in a research report on Wednesday, May 17th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $19.00 price target on shares of Oasis Petroleum in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. Oasis Petroleum presently has a consensus rating of “Hold” and a consensus target price of $14.48.
The firm’s market cap is $1.80 billion. The stock’s 50 day moving average price is $7.55 and its 200-day moving average price is $10.40.
Oasis Petroleum (NYSE:OAS) last announced its earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. Oasis Petroleum had a negative net margin of 5.16% and a negative return on equity of 2.43%. The company had revenue of $254.10 million for the quarter, compared to analysts’ expectations of $255.41 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. On average, analysts forecast that Oasis Petroleum Inc. will post ($0.14) EPS for the current year.
In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 187,236 shares of Oasis Petroleum stock in a transaction 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 sale, the chairman now owns 1,469,546 shares of the company’s stock, valued at approximately $13,960,687. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Taylor L. Reid sold 50,000 shares of Oasis Petroleum stock in a transaction on Friday, August 4th. The stock was sold at an average price of $7.82, for a total transaction of $391,000.00. Following the sale, the insider now directly owns 1,175,727 shares in the company, valued at approximately $9,194,185.14. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in OAS. Bank of New York Mellon Corp boosted its stake in Oasis Petroleum by 90.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,755,177 shares of the energy producer’s stock worth $46,330,000 after purchasing an additional 2,732,234 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Oasis Petroleum during the 2nd quarter worth $17,572,000. Caymus Capital Partners L.P. boosted its stake in Oasis Petroleum by 50.2% during the 2nd quarter. Caymus Capital Partners L.P. now owns 6,239,600 shares of the energy producer’s stock worth $50,229,000 after purchasing an additional 2,086,400 shares during the last quarter. State Street Corp boosted its stake in Oasis Petroleum by 24.3% during the 2nd quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock worth $79,657,000 after purchasing an additional 1,931,992 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Oasis Petroleum during the 1st quarter worth $18,545,000. 93.57% of the stock is currently owned by institutional investors.
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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, Well Services, and Midstream Services.