Cowen Reiterates “Buy” Rating for Oasis Petroleum (NYSE:OAS)

Cowen reiterated their buy rating on shares of Oasis Petroleum (NYSE:OAS) in a research report sent to investors on Friday, November 10th. Cowen currently has a $12.00 price objective on the energy producer’s stock.

OAS has been the topic of several other research reports. Mizuho reaffirmed a hold rating and set a $10.00 price target on shares of Oasis Petroleum in a research report on Friday, September 29th. Evercore ISI raised Oasis Petroleum from an in-line rating to an outperform rating in a research report on Friday, November 3rd. Morgan Stanley lowered their price target on Oasis Petroleum from $10.00 to $9.00 and set an equal weight rating on the stock in a research report on Wednesday, October 18th. BMO Capital Markets set a $11.00 price target on Oasis Petroleum and gave the stock a buy rating in a research report on Sunday, August 13th. Finally, Deutsche Bank lowered Oasis Petroleum from a buy rating to a hold rating and lowered their price target for the stock from $18.00 to $11.00 in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $13.32.

Shares of Oasis Petroleum (OAS) traded up $0.13 during trading on Friday, reaching $9.65. The company had a trading volume of 9,057,300 shares, compared to its average volume of 8,641,736. Oasis Petroleum has a 1-year low of $6.69 and a 1-year high of $17.08. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings results on Tuesday, November 7th. The energy producer reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The firm had revenue of $304.70 million for the quarter, compared to analyst estimates of $264.72 million. Oasis Petroleum had a negative return on equity of 1.29% and a negative net margin of 5.23%. The business’s quarterly revenue was up 71.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) EPS. research analysts forecast that Oasis Petroleum will post -0.1 earnings per share for the current year.

In related news, VP Nickolas J. Lorentzatos sold 10,985 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $8.77, for a total value of $96,338.45. Following the completion of the sale, the vice president now directly owns 182,351 shares in the company, valued at approximately $1,599,218.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in Oasis Petroleum by 1.1% in the 2nd quarter. Amalgamated Bank now owns 29,623 shares of the energy producer’s stock valued at $238,000 after purchasing an additional 323 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Oasis Petroleum by 5.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 20,664 shares of the energy producer’s stock valued at $166,000 after purchasing an additional 1,089 shares during the period. Teacher Retirement System of Texas boosted its stake in Oasis Petroleum by 6.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,688 shares of the energy producer’s stock valued at $150,000 after purchasing an additional 1,100 shares during the period. Bellwether Investment Group LLC boosted its stake in Oasis Petroleum by 7.7% in the 2nd quarter. Bellwether Investment Group LLC now owns 20,566 shares of the energy producer’s stock valued at $166,000 after purchasing an additional 1,463 shares during the period. Finally, Energy Opportunities Capital Management LLC boosted its stake in Oasis Petroleum by 2.8% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 75,808 shares of the energy producer’s stock valued at $610,000 after purchasing an additional 2,062 shares during the period. Institutional investors and hedge funds own 93.98% of the company’s stock.

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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.

Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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