Zacks Investment Research Upgrades Oasis Petroleum (NYSE:OAS) to Buy

Oasis Petroleum (NYSE:OAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, February 3rd. The brokerage presently has a $10.00 price target on the energy producer’s stock. Zacks Investment Research‘s target price points to a potential upside of 32.10% from the company’s previous close.

According to Zacks, “Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas resources. The Company is currently focused on exploiting resource potential from the Bakken and Three Forks formations, which are present across a substantial majority of its acreage. Oasis Petroleum Inc. is based in Houston, Texas. “

Other analysts also recently issued research reports about the stock. Deutsche Bank initiated coverage on shares of Oasis Petroleum in a report on Thursday, February 1st. They set a “hold” rating and a $10.00 price objective on the stock. Piper Jaffray Companies set a $14.00 price target on shares of Oasis Petroleum and gave the company a “buy” rating in a report on Monday, October 16th. Stifel Nicolaus set a $9.00 price target on shares of Oasis Petroleum and gave the company a “hold” rating in a report on Tuesday, January 30th. Morgan Stanley upped their price target on shares of Oasis Petroleum from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Finally, Jefferies Group set a $14.00 price target on shares of Oasis Petroleum and gave the company a “buy” rating in a report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.96.

Shares of Oasis Petroleum (NYSE OAS) opened at $7.57 on Friday. The company has a market cap of $2,119.50, a PE ratio of -29.69 and a beta of 2.23. Oasis Petroleum has a fifty-two week low of $6.69 and a fifty-two week high of $15.27. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Oasis Petroleum by 0.6% in the second 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 boosted its stake in shares of Oasis Petroleum by 24.3% in the second 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 period. Bank of New York Mellon Corp boosted its stake in shares of Oasis Petroleum by 10.0% in the third 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 period. Hermes Investment Management Ltd. boosted its stake in shares of Oasis Petroleum by 22.1% in the fourth quarter. Hermes Investment Management Ltd. now owns 5,808,937 shares of the energy producer’s stock valued at $48,853,000 after purchasing an additional 1,052,304 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of Oasis Petroleum by 11.1% in the third quarter. Macquarie Group Ltd. now owns 4,374,589 shares of the energy producer’s stock valued at $39,897,000 after purchasing an additional 436,975 shares during the period. 83.53% of the stock is owned by institutional investors.

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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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