Zacks Investment Research upgraded shares of Oasis Petroleum (NYSE:OAS) from a hold rating to a buy rating in a research note released on Friday. They currently have $14.00 price target on the energy producer’s stock.

According to Zacks, “Oasis Petroleum has been riding high on its top-tier acreage position in the Bakken shale play, which is responsible for its robust production growth. The Texas-based upstream player's robust volume profile has helped it beat earnings for nine quarters in a row. Driven by robust results, the company upgraded its output outlook, further boosting the optimism surrounding the stock. Oasis Petroleum's Delaware acreage acquisition in early 2018 has diversified its holdings. Notably, it has been generating enough cash to pay off debt along with funding capex since the past three years. These positives are also well reflected in its price performance with its shares rallying strongly so far this year. Banking on stronger oil prices and robust production growth, Oasis Petroleum is poised to maintain its cash flow momentum going forward. This accounts for our bullish stance.”

OAS has been the subject of several other reports. 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 boosted their price target on 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. Piper Jaffray Companies reiterated an overweight rating on shares of Oasis Petroleum in a report on Friday, September 28th. Finally, LADENBURG THALM/SH SH set a $18.00 price target on Oasis Petroleum and gave the company a buy rating in a report on Monday, October 1st. One research 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 presently has an average rating of Buy and a consensus target price of $14.37.

OAS traded up $0.42 during trading on Friday, hitting $12.39. The company’s stock had a trading volume of 9,834,142 shares, compared to its average volume of 8,813,446. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.48 and a current ratio of 0.51. The company has a market capitalization of $4.51 billion, a PE ratio of 619.50, a price-to-earnings-growth ratio of 2.06 and a beta of 2.03. Oasis Petroleum has a twelve month low of $7.31 and a twelve month high of $14.57.

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

A number of institutional investors have recently made changes to their positions in OAS. GMT Capital Corp boosted its position in Oasis Petroleum by 43.1% in the 2nd quarter. GMT Capital Corp now owns 15,467,500 shares of the energy producer’s stock valued at $200,613,000 after buying an additional 4,655,700 shares during the last quarter. Pine Brook Road Advisors LP purchased a new position in Oasis Petroleum in the 2nd quarter valued at about $111,635,000. Northern Trust Corp boosted its position in Oasis Petroleum by 22.8% in the 2nd quarter. Northern Trust Corp now owns 5,238,348 shares of the energy producer’s stock valued at $67,941,000 after buying an additional 974,014 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Oasis Petroleum by 33.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,422,534 shares of the energy producer’s stock valued at $57,362,000 after buying an additional 1,110,344 shares during the last quarter. Finally, BlueMountain Capital Management LLC boosted its position in Oasis Petroleum by 744.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 3,903,089 shares of the energy producer’s stock valued at $50,623,000 after buying an additional 3,440,937 shares during the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.

Oasis Petroleum Company 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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