Wolfe Research Upgrades Oasis Petroleum (OAS) to Outperform

Oasis Petroleum (NYSE:OAS) was upgraded by stock analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, The Fly reports.

Several other research firms also recently weighed in on OAS. LADENBURG THALM/SH SH set a $18.00 price objective on shares of Oasis Petroleum and gave the stock a “buy” rating in a report on Monday, October 1st. Oppenheimer assumed coverage on shares of Oasis Petroleum in a report on Wednesday, October 3rd. They set a “market perform” rating on the stock. Piper Jaffray Companies restated an “overweight” rating on shares of Oasis Petroleum in a report on Friday, September 28th. Morgan Stanley lowered their price objective on shares of Oasis Petroleum from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Finally, Susquehanna Bancshares downgraded shares of Oasis Petroleum from a “positive” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Monday, July 9th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $14.41.

OAS opened at $12.16 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.48 and a current ratio of 0.51. Oasis Petroleum has a 1-year low of $7.31 and a 1-year high of $14.57. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 608.00, a price-to-earnings-growth ratio of 1.77 and a beta of 2.03.

Oasis Petroleum (NYSE:OAS) last released its quarterly earnings data on Monday, August 6th. The energy producer reported $0.10 earnings per share 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 firm had revenue of $501.30 million for the quarter, compared to the consensus estimate of $404.75 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business’s revenue was up 97.3% on a year-over-year basis. On average, equities research analysts anticipate that Oasis Petroleum will post 0.47 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC raised its holdings in shares of Oasis Petroleum by 6.8% in the second quarter. Piedmont Investment Advisors LLC now owns 73,286 shares of the energy producer’s stock valued at $951,000 after purchasing an additional 4,680 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Oasis Petroleum by 28.8% in the second quarter. Russell Investments Group Ltd. now owns 25,567 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 5,719 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Oasis Petroleum by 32.9% in the second quarter. Tower Research Capital LLC TRC now owns 23,405 shares of the energy producer’s stock valued at $303,000 after purchasing an additional 5,794 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Oasis Petroleum in the second quarter valued at about $734,000. Finally, Oakbrook Investments LLC purchased a new stake in shares of Oasis Petroleum in the second quarter valued at about $131,000. Institutional investors own 97.29% of the company’s stock.

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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Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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