Oasis Petroleum Inc. (NYSE:OAS) had its target price trimmed by Citigroup Inc. from $13.00 to $12.00 in a report published on Friday, July 21st. The brokerage currently has a buy rating on the energy producer’s stock.
A number of other research firms have also recently weighed in on OAS. BMO Capital Markets raised shares of Oasis Petroleum from a market perform rating to an outperform rating and boosted their target price for the stock from $14.26 to $18.00 in a research note on Friday, March 31st. Stifel Nicolaus assumed coverage on shares of Oasis Petroleum in a research note on Friday, April 7th. They set a hold rating and a $13.00 target price on the stock. Seaport Global Securities raised shares of Oasis Petroleum from a neutral rating to a buy rating in a research note on Friday, March 31st. Royal Bank Of Canada reaffirmed a buy rating and set a $19.00 target price on shares of Oasis Petroleum in a research note on Friday, March 31st. Finally, UBS AG started coverage on shares of Oasis Petroleum in a research note on Thursday, March 23rd. They issued a neutral rating and a $14.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Oasis Petroleum presently has a consensus rating of Buy and an average price target of $14.54.
Oasis Petroleum (NYSE:OAS) traded down 1.61% during trading on Friday, reaching $7.95. The company’s stock had a trading volume of 11,960,494 shares. The firm’s 50-day moving average is $7.81 and its 200-day moving average is $11.31. The stock’s market cap is $1.89 billion. Oasis Petroleum has a 52-week low of $6.90 and a 52-week high of $17.08.
Oasis Petroleum (NYSE:OAS) last released its quarterly earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Oasis Petroleum had a negative net margin of 5.16% and a negative return on equity of 2.43%. The company had revenue of $254.10 million during the quarter, compared to the consensus estimate of $255.41 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. Equities research analysts forecast that Oasis Petroleum will post ($0.13) EPS for the current year.
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In related news, Chairman Thomas B. Nusz sold 187,236 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $9.50, for a total transaction of $1,778,742.00. Following the completion of the transaction, the chairman now owns 1,469,546 shares in the company, valued at $13,960,687. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Taylor L. Reid sold 50,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $7.82, for a total transaction of $391,000.00. Following the transaction, the insider now owns 1,175,727 shares of the company’s stock, valued at approximately $9,194,185.14. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in shares of Oasis Petroleum during the fourth quarter valued at $2,127,000. Comerica Bank increased its position in Oasis Petroleum by 65.1% in the fourth quarter. Comerica Bank now owns 31,008 shares of the energy producer’s stock valued at $458,000 after buying an additional 12,228 shares in the last quarter. Norges Bank bought a new position in Oasis Petroleum during the fourth quarter valued at approximately $29,719,000. Quadrature Capital Ltd acquired a new position in shares of Oasis Petroleum during the fourth quarter valued at about $1,478,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Oasis Petroleum during the fourth quarter valued at about $227,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.
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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