Oasis Petroleum Inc. (OAS) Earns “Outperform” Rating from Royal Bank Of Canada
Royal Bank Of Canada restated their outperform rating on shares of Oasis Petroleum Inc. (NYSE:OAS) in a report issued on Thursday morning, MarketBeat Ratings reports. They currently have a $13.00 price objective on the energy producer’s stock, up from their previous price objective of $12.00.
OAS has been the topic of several other research reports. BMO Capital Markets set a $11.00 price target on shares of Oasis Petroleum and gave the stock a buy rating in a research note on Tuesday, October 24th. Jefferies Group LLC set a $13.00 price target on shares of Oasis Petroleum and gave the stock a buy rating in a research note on Tuesday, August 29th. Evercore ISI upgraded shares of Oasis Petroleum from an in-line rating to an outperform rating in a research note on Friday, November 3rd. Bank of America Corporation initiated coverage on shares of Oasis Petroleum in a research note on Wednesday, July 19th. They issued a neutral rating and a $9.00 price target on the stock. Finally, Citigroup Inc. decreased their price target on shares of Oasis Petroleum from $13.00 to $12.00 and set a buy rating on the stock in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $13.27.
Shares of Oasis Petroleum (NYSE:OAS) traded up $0.01 during mid-day trading on Thursday, reaching $10.78. 8,769,700 shares of the company’s stock traded hands, compared to its average volume of 8,536,310. Oasis Petroleum has a 1-year low of $6.69 and a 1-year high of $17.08. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.80 and a current ratio of 0.85.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Tuesday, November 7th. The energy producer reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The business had revenue of $304.70 million for the quarter, compared to analysts’ expectations of $264.72 million. Oasis Petroleum had a negative net margin of 5.23% and a negative return on equity of 1.31%. The business’s quarterly revenue was up 71.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) EPS. equities analysts expect that Oasis Petroleum will post -0.13 earnings per share for the current fiscal year.
In other Oasis Petroleum news, VP Nickolas J. Lorentzatos sold 10,985 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $8.77, for a total value of $96,338.45. Following the transaction, the vice president now directly owns 182,351 shares in the company, valued at approximately $1,599,218.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Oasis Petroleum by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,521,951 shares of the energy producer’s stock worth $157,152,000 after acquiring an additional 125,706 shares in the last quarter. State Street Corp grew its stake in Oasis Petroleum by 24.3% in the 2nd quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock worth $79,657,000 after acquiring an additional 1,931,992 shares in the last quarter. Alliancebernstein L.P. grew its stake in Oasis Petroleum by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,855,946 shares of the energy producer’s stock worth $55,190,000 after acquiring an additional 270,140 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Oasis Petroleum by 10.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,331,449 shares of the energy producer’s stock worth $57,743,000 after acquiring an additional 576,272 shares in the last quarter. Finally, Caymus Capital Partners L.P. lifted its position in shares of Oasis Petroleum by 50.2% in 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 period. Institutional investors and hedge funds own 94.21% 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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