California Public Employees Retirement System lowered its position in shares of Oasis Petroleum Inc. (NYSE:OAS) by 6.3% in the second quarter, HoldingsChannel.com reports. The firm owned 518,669 shares of the energy producer’s stock after selling 34,723 shares during the period. California Public Employees Retirement System’s holdings in Oasis Petroleum were worth $6,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OAS. Northern Trust Corp grew its holdings in Oasis Petroleum by 0.8% during the first quarter. Northern Trust Corp now owns 4,264,334 shares of the energy producer’s stock valued at $34,541,000 after purchasing an additional 33,205 shares during the period. New York State Common Retirement Fund grew its holdings in Oasis Petroleum by 41.4% during the first quarter. New York State Common Retirement Fund now owns 347,900 shares of the energy producer’s stock valued at $2,818,000 after purchasing an additional 101,900 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Oasis Petroleum by 17.4% during the first quarter. BNP Paribas Arbitrage SA now owns 113,745 shares of the energy producer’s stock valued at $921,000 after purchasing an additional 16,830 shares during the period. Russell Investments Group Ltd. grew its holdings in Oasis Petroleum by 297.0% during the first quarter. Russell Investments Group Ltd. now owns 19,848 shares of the energy producer’s stock valued at $161,000 after purchasing an additional 14,848 shares during the period. Finally, A.R.T. Advisors LLC grew its holdings in Oasis Petroleum by 359.6% during the first quarter. A.R.T. Advisors LLC now owns 226,600 shares of the energy producer’s stock valued at $1,835,000 after purchasing an additional 177,300 shares during the period. Hedge funds and other institutional investors own 97.19% of the company’s stock.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Friday. Williams Capital reiterated a “buy” rating and issued a $18.00 price target on shares of Oasis Petroleum in a report on Tuesday, June 26th. Morgan Stanley upped their price target on shares of Oasis Petroleum from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Royal Bank of Canada reiterated a “buy” rating and issued a $15.00 price target on shares of Oasis Petroleum in a report on Friday, July 13th. Finally, Piper Jaffray Companies reiterated an “overweight” rating on shares of Oasis Petroleum in a report on Friday, September 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $14.37.

Shares of OAS opened at $12.39 on Friday. Oasis Petroleum Inc. has a 12 month low of $7.31 and a 12 month high of $14.57. The firm has a market cap of $4.51 billion, a P/E ratio of 620.00, a price-to-earnings-growth ratio of 2.06 and a beta of 2.03. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.77.

Oasis Petroleum (NYSE:OAS) last announced its earnings results on Monday, August 6th. The energy producer reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. Oasis Petroleum had a negative net margin of 14.48% and a positive return on equity of 2.53%. The business had revenue of $501.30 million during the quarter, compared to analysts’ expectations of $404.75 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The firm’s revenue was up 97.3% on a year-over-year basis. As a group, equities research analysts predict that Oasis Petroleum Inc. will post 0.46 EPS for the current year.

Oasis Petroleum Profile

Oasis Petroleum Inc, an independent exploration and production company, focuses on the acquisition and development of onshore unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin, and Permian Basin. As of December 31, 2017, the company had 502,660 net leasehold acres in the Williston Basin; and approximately 312.2 million barrels of oil equivalent of estimated net proved reserves.

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Institutional Ownership by Quarter for Oasis Petroleum (NYSE:OAS)

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