Analysts forecast that Oasis Petroleum Inc. (NYSE:OAS) will announce $397.15 million in sales for the current quarter, Zacks reports. Nine analysts have made estimates for Oasis Petroleum’s earnings, with estimates ranging from $360.30 million to $459.30 million. Oasis Petroleum reported sales of $254.09 million in the same quarter last year, which indicates a positive year-over-year growth rate of 56.3%. The company is expected to announce its next earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Oasis Petroleum will report full-year sales of $1.68 billion for the current fiscal year, with estimates ranging from $1.49 billion to $1.91 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.06 billion per share, with estimates ranging from $1.85 billion to $2.21 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Oasis Petroleum.
Oasis Petroleum (NYSE:OAS) last announced its earnings results on Monday, May 7th. The energy producer reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $421.20 million for the quarter, compared to analyst estimates of $370.13 million. Oasis Petroleum had a return on equity of 1.39% and a net margin of 7.26%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS.
A number of equities analysts have weighed in on the company. Williams Capital restated a “buy” rating and issued a $18.00 target price on shares of Oasis Petroleum in a research note on Tuesday. Stifel Nicolaus upped their target price on Oasis Petroleum from $10.00 to $10.50 and gave the stock a “hold” rating in a research note on Tuesday. Jefferies Financial Group lowered Oasis Petroleum from a “buy” rating to a “hold” rating and decreased their target price for the stock from $14.56 to $14.00 in a research note on Monday, June 11th. KeyCorp upped their target price on Oasis Petroleum from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, May 24th. Finally, JPMorgan Chase & Co. upped their target price on Oasis Petroleum from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, May 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $13.26.
In related news, insider Taylor L. Reid sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $12.22, for a total transaction of $366,600.00. Following the transaction, the insider now directly owns 1,232,534 shares in the company, valued at approximately $15,061,565.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Nickolas J. Lorentzatos sold 19,181 shares of the firm’s stock in a transaction that occurred on Saturday, May 5th. The stock was sold at an average price of $11.90, for a total value of $228,253.90. Following the transaction, the vice president now owns 257,632 shares in the company, valued at $3,065,820.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,181 shares of company stock worth $791,174. 1.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of OAS. Schwab Charles Investment Management Inc. grew its position in Oasis Petroleum by 17.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,822,491 shares of the energy producer’s stock worth $15,328,000 after acquiring an additional 276,935 shares during the last quarter. Teacher Retirement System of Texas grew its position in Oasis Petroleum by 298.1% during the 4th quarter. Teacher Retirement System of Texas now owns 73,872 shares of the energy producer’s stock worth $621,000 after acquiring an additional 55,314 shares during the last quarter. California Public Employees Retirement System grew its position in Oasis Petroleum by 2.8% during the 4th quarter. California Public Employees Retirement System now owns 566,700 shares of the energy producer’s stock worth $4,766,000 after acquiring an additional 15,200 shares during the last quarter. Swiss National Bank grew its position in Oasis Petroleum by 28.4% during the 4th quarter. Swiss National Bank now owns 485,250 shares of the energy producer’s stock worth $4,081,000 after acquiring an additional 107,400 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in Oasis Petroleum during the 4th quarter worth approximately $1,744,000. Institutional investors and hedge funds own 92.50% of the company’s stock.
NYSE OAS traded up $0.26 during trading on Friday, reaching $13.42. The company’s stock had a trading volume of 10,878,340 shares, compared to its average volume of 10,068,619. The firm has a market capitalization of $4.16 billion, a P/E ratio of 671.00, a P/E/G ratio of 2.11 and a beta of 2.11. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 0.69. Oasis Petroleum has a one year low of $6.69 and a one year high of $13.87.
About Oasis Petroleum
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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