Deutsche Bank AG downgraded shares of Oasis Petroleum Inc. (NYSE:OAS) from a buy rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have $11.00 price objective on the energy producer’s stock, down from their previous price objective of $18.00.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Oasis Petroleum from a hold rating to a sell rating in a report on Tuesday. Citigroup Inc. cut their price target on Oasis Petroleum from $16.00 to $13.00 and set a buy rating for the company in a report on Thursday, July 13th. Cowen and Company set a $14.00 price target on Oasis Petroleum and gave the company a buy rating in a report on Monday, July 10th. Jefferies Group LLC reiterated a buy rating and set a $17.00 price objective on shares of Oasis Petroleum in a research report on Thursday, July 6th. Finally, BMO Capital Markets set a $11.00 price objective on Oasis Petroleum and gave the stock a buy rating in a research report on Monday, June 26th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Oasis Petroleum currently has a consensus rating of Buy and an average target price of $14.74.
Shares of Oasis Petroleum (OAS) traded up 3.14% during trading on Tuesday, reaching $7.89. 3,376,642 shares of the company were exchanged. The stock’s market capitalization is $1.87 billion. The company has a 50 day moving average price of $8.44 and a 200-day moving average price of $12.12. Oasis Petroleum has a one year low of $6.56 and a one year high of $17.08.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Monday, May 8th. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. Oasis Petroleum had a negative return on equity of 2.88% and a negative net margin of 18.00%. The business had revenue of $285.10 million during the quarter, compared to the consensus estimate of $252.72 million. During the same quarter last year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 119.3% on a year-over-year basis. Equities analysts predict that Oasis Petroleum will post ($0.10) EPS for the current year.
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In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 187,236 shares of Oasis Petroleum stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $9.50, for a total value of $1,778,742.00. Following the transaction, the chairman now owns 1,469,546 shares in the company, valued at $13,960,687. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Oasis Petroleum during the fourth quarter worth approximately $29,719,000. Caymus Capital Partners L.P. raised its stake in shares of Oasis Petroleum by 48.5% in the first quarter. Caymus Capital Partners L.P. now owns 4,153,200 shares of the energy producer’s stock worth $59,225,000 after buying an additional 1,356,200 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Oasis Petroleum during the first quarter worth approximately $18,545,000. Bank of Montreal Can raised its stake in shares of Oasis Petroleum by 110.7% in the first quarter. Bank of Montreal Can now owns 2,332,894 shares of the energy producer’s stock worth $33,267,000 after buying an additional 1,225,628 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Oasis Petroleum by 21.4% in the first quarter. Alliancebernstein L.P. now owns 6,585,806 shares of the energy producer’s stock worth $93,914,000 after buying an additional 1,161,691 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.
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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