Cowen and Company reissued their buy rating on shares of Oasis Petroleum Inc. (NYSE:OAS) in a research note issued to investors on Friday morning. They currently have a $12.00 price objective on the energy producer’s stock.
OAS has been the topic of a number of other reports. Mizuho reaffirmed a hold rating and issued a $10.00 target price on shares of Oasis Petroleum in a report on Friday, September 29th. Evercore ISI raised shares of Oasis Petroleum from an in-line rating to an outperform rating in a report on Friday, November 3rd. Morgan Stanley cut their target price on shares of Oasis Petroleum from $10.00 to $9.00 and set an equal weight rating on the stock in a report on Wednesday, October 18th. BMO Capital Markets set a $11.00 target price on shares of Oasis Petroleum and gave the company a buy rating in a report on Sunday, August 13th. Finally, Deutsche Bank AG cut shares of Oasis Petroleum from a buy rating to a hold rating and cut their target price for the company from $18.00 to $11.00 in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. Oasis Petroleum currently has a consensus rating of Hold and a consensus price target of $13.27.
Shares of Oasis Petroleum (NYSE:OAS) traded up $0.01 during trading on Friday, hitting $10.78. 8,769,700 shares of the stock were exchanged, compared to its average volume of 8,705,537. Oasis Petroleum has a fifty-two week low of $6.69 and a fifty-two week 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 earnings results on Tuesday, November 7th. The energy producer reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 71.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) EPS. equities research analysts expect that Oasis Petroleum will post -0.14 EPS for the current fiscal year.
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In related news, VP Nickolas J. Lorentzatos sold 10,985 shares of the business’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 sale, the vice president now directly owns 182,351 shares in the company, valued at approximately $1,599,218.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 125,706 shares in the last quarter. State Street Corp raised 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 valued at $79,657,000 after purchasing an additional 1,931,992 shares during the last quarter. Alliancebernstein L.P. raised 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 valued at $55,190,000 after purchasing an additional 270,140 shares during the last quarter. Bank of New York Mellon Corp raised 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 valued at $57,743,000 after purchasing an additional 576,272 shares during the last quarter. Finally, Caymus Capital Partners L.P. raised its stake in 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 valued at $50,229,000 after purchasing an additional 2,086,400 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.
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.
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