Creative Planning Cuts Holdings in Oasis Petroleum Inc. (NYSE:OAS)

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Creative Planning decreased its stake in shares of Oasis Petroleum Inc. (NYSE:OAS) by 38.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 636,457 shares of the energy producer’s stock after selling 398,033 shares during the quarter. Creative Planning owned approximately 0.20% of Oasis Petroleum worth $2,202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OAS. Nuveen Asset Management LLC purchased a new stake in Oasis Petroleum during the 2nd quarter worth about $25,706,000. Point72 Asset Management L.P. purchased a new stake in Oasis Petroleum during the 2nd quarter worth about $20,355,000. UBS Group AG increased its holdings in Oasis Petroleum by 410.0% during the 2nd quarter. UBS Group AG now owns 3,427,982 shares of the energy producer’s stock worth $19,471,000 after purchasing an additional 2,755,871 shares during the period. Vanguard Group Inc. increased its holdings in Oasis Petroleum by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 30,704,393 shares of the energy producer’s stock worth $174,400,000 after purchasing an additional 1,661,458 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in Oasis Petroleum by 24.9% during the 2nd quarter. Macquarie Group Ltd. now owns 6,116,897 shares of the energy producer’s stock worth $34,744,000 after purchasing an additional 1,218,449 shares during the period. Institutional investors own 98.99% of the company’s stock.

Several equities research analysts have weighed in on the company. LADENBURG THALM/SH SH downgraded Oasis Petroleum from a “buy” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $5.00 in a report on Monday, August 26th. Raymond James downgraded Oasis Petroleum from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $7.50 to $4.00 in a report on Thursday, August 8th. Morgan Stanley upped their price target on Oasis Petroleum from $3.75 to $4.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Piper Jaffray Companies set a $5.00 price target on Oasis Petroleum and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Wolfe Research downgraded Oasis Petroleum from a “peer perform” rating to an “underperform” rating and set a $3.00 price target on the stock. in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.81.

NYSE:OAS opened at $3.10 on Friday. The stock has a 50-day simple moving average of $3.14 and a 200-day simple moving average of $4.28. The stock has a market cap of $939.86 million, a P/E ratio of 11.92 and a beta of 2.20. Oasis Petroleum Inc. has a 1 year low of $2.41 and a 1 year high of $9.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.79 and a current ratio of 0.84.

Oasis Petroleum (NYSE:OAS) last released its quarterly earnings data on Tuesday, November 5th. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The business had revenue of $482.74 million for the quarter, compared to analyst estimates of $392.16 million. Oasis Petroleum had a negative return on equity of 0.50% and a net margin of 7.78%. The company’s revenue was down 28.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. On average, equities research analysts predict that Oasis Petroleum Inc. will post -0.02 EPS for the current year.

In other news, COO Taylor L. Reid bought 45,060 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $2.76 per share, with a total value of $124,365.60. Following the transaction, the chief operating officer now directly owns 1,462,819 shares in the company, valued at $4,037,380.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas B. Nusz bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $2.76 per share, with a total value of $82,800.00. Following the completion of the transaction, the chief executive officer now owns 1,830,332 shares in the company, valued at $5,051,716.32. The disclosure for this purchase can be found here. Corporate insiders own 1.70% 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 the Texas region of the Delaware Basin, respectively. As of December 31, 2018, the company had 413,552 net leasehold acres in the Williston Basin; and 23,366 net leasehold acres in the Delaware Basin, as well as approximately 320.5 million barrels of oil equivalent of estimated net proved reserves.

Further Reading: Moving Average – How it Helps Investors in Stock Selection

Institutional Ownership by Quarter for Oasis Petroleum (NYSE:OAS)

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