Oasis Petroleum Inc. (NYSE:OAS)’s share price traded down 7.3% on Friday . The stock traded as low as $6.98 and last traded at $7.10. 10,613,532 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 9,173,380 shares. The stock had previously closed at $7.66.
Several equities analysts have recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and issued a $11.00 target price on shares of Oasis Petroleum in a research report on Sunday, September 3rd. Jefferies Group LLC set a $13.00 target price on Oasis Petroleum and gave the company a “buy” rating in a research report on Tuesday, August 29th. Royal Bank Of Canada set a $14.00 target price on Oasis Petroleum and gave the company a “buy” rating in a research report on Thursday, August 24th. BidaskClub downgraded Oasis Petroleum from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Finally, BMO Capital Markets set a $11.00 target price on Oasis Petroleum and gave the company a “buy” rating in a research report on Sunday, August 13th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $14.48.
The firm’s 50 day moving average price is $7.52 and its 200 day moving average price is $10.32. The stock’s market capitalization is $1.69 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 the consensus estimate of ($0.06) by $0.01. The business had revenue of $254.10 million for the quarter, compared to analyst estimates of $255.41 million. Oasis Petroleum had a negative return on equity of 2.43% and a negative net margin of 5.16%. The business’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period last year, the company posted ($0.11) EPS. Equities analysts predict that Oasis Petroleum Inc. will post ($0.14) EPS for the current fiscal year.
In related news, insider Taylor L. Reid sold 50,000 shares of the 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 transaction, the insider now directly owns 1,175,727 shares of the company’s stock, valued at approximately $9,194,185.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Oasis Petroleum by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 19,887,696 shares of the energy producer’s stock worth $283,596,000 after buying an additional 249,264 shares during the period. Vanguard Group Inc. raised its position in shares of Oasis Petroleum by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,521,951 shares of the energy producer’s stock worth $157,152,000 after buying an additional 125,706 shares during the period. State Street Corp raised its position in shares of Oasis Petroleum by 24.3% in the 2nd quarter. State Street Corp now owns 9,895,275 shares of the energy producer’s stock worth $79,657,000 after buying an additional 1,931,992 shares during the period. Alliancebernstein L.P. raised its position in shares of Oasis Petroleum by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,855,946 shares of the energy producer’s stock worth $55,190,000 after buying an additional 270,140 shares during the period. Finally, Caymus Capital Partners L.P. raised its position in shares of 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 worth $50,229,000 after buying an additional 2,086,400 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.
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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