Oasis Petroleum Inc. (NYSE:OAS) has been assigned a $14.00 price target by research analysts at Piper Jaffray Companies in a research report issued on Monday. The firm currently has a “buy” rating on the energy producer’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 59.82% from the stock’s previous close.
A number of other brokerages have also weighed in on OAS. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 target price (down from $10.50) on shares of Oasis Petroleum in a research report on Monday, September 25th. Royal Bank Of Canada set a $14.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a research report on Thursday, August 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Oasis Petroleum in a research report on Tuesday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating on shares of Oasis Petroleum in a research report on Saturday, September 16th. Finally, BMO Capital Markets set a $11.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a research report on Monday, June 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company. Oasis Petroleum presently has an average rating of “Hold” and an average target price of $13.81.
Oasis Petroleum (NYSE:OAS) opened at 8.76 on Monday. Oasis Petroleum has a 52 week low of $6.69 and a 52 week high of $17.08. The stock’s 50 day moving average is $8.26 and its 200 day moving average is $9.41. The company’s market capitalization is $2.08 billion.
Oasis Petroleum (NYSE:OAS) last issued its earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Oasis Petroleum had a negative return on equity of 2.43% and a negative net margin of 5.16%. The company had revenue of $254.10 million for the quarter, compared to analyst estimates of $255.41 million. During the same period in the prior year, the firm earned ($0.11) earnings per share. Oasis Petroleum’s revenue for the quarter was up 42.0% on a year-over-year basis. Analysts predict that Oasis Petroleum will post ($0.16) EPS for the current fiscal year.
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In other Oasis Petroleum news, 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 value of $391,000.00. Following the completion of the transaction, the insider now owns 1,175,727 shares in the company, valued at approximately $9,194,185.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nickolas J. Lorentzatos sold 10,985 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $8.77, for a total value of $96,338.45. Following the completion of the transaction, the vice president now owns 182,351 shares of the company’s stock, valued at approximately $1,599,218.27. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in OAS. Bank of New York Mellon Corp grew its stake in Oasis Petroleum by 90.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,755,177 shares of the energy producer’s stock valued at $46,330,000 after purchasing an additional 2,732,234 shares during the period. Renaissance Technologies LLC bought a new position in Oasis Petroleum in the 2nd quarter valued at $17,572,000. Caymus Capital Partners L.P. grew its stake in Oasis Petroleum by 50.2% in the 2nd quarter. Caymus Capital Partners L.P. now owns 6,239,600 shares of the energy producer’s stock valued at $50,229,000 after purchasing an additional 2,086,400 shares during the period. State Street Corp grew its stake in Oasis Petroleum by 24.3% in the 2nd 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. Finally, Precocity Capital LP bought a new position in Oasis Petroleum in the 2nd quarter valued at $8,855,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.
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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