Oasis Petroleum (NYSE:OAS) Price Target Cut to $6.00

Oasis Petroleum (NYSE:OAS) had its target price lowered by research analysts at Wells Fargo & Co from $7.00 to $6.00 in a report issued on Friday, September 20th, BenzingaRatingsTable reports. The brokerage presently has a “market perform” rating on the energy producer’s stock. Wells Fargo & Co‘s price objective suggests a potential upside of 85.19% from the stock’s current price.

OAS has been the topic of a number of other research reports. Evercore ISI set a $9.00 target price on shares of Oasis Petroleum and gave the company a “hold” rating in a research note on Wednesday, August 7th. ValuEngine raised shares of Oasis Petroleum from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 28th. MKM Partners initiated coverage on shares of Oasis Petroleum in a research note on Thursday, August 22nd. They set a “buy” rating and a $5.00 target price on the stock. LADENBURG THALM/SH SH lowered shares of Oasis Petroleum from a “buy” rating to a “neutral” rating and cut their target price for the company from $7.00 to $5.00 in a research note on Monday, August 26th. Finally, Raymond James lowered shares of Oasis Petroleum from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $7.50 to $4.00 in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.54.

Shares of NYSE OAS traded up $0.16 during trading on Friday, hitting $3.24. 9,891,322 shares of the company traded hands, compared to its average volume of 12,717,809. Oasis Petroleum has a fifty-two week low of $2.41 and a fifty-two week high of $12.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.79 and a current ratio of 0.84. The business’s fifty day moving average is $3.41 and its 200 day moving average is $4.75. The firm has a market capitalization of $955.96 million, a price-to-earnings ratio of 12.46, a P/E/G ratio of 21.78 and a beta of 2.19.

Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings data on Tuesday, August 6th. The energy producer reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $529.41 million during the quarter, compared to the consensus estimate of $406.63 million. Oasis Petroleum had a net margin of 9.43% and a return on equity of 0.59%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. On average, analysts predict that Oasis Petroleum will post 0.01 EPS for the current year.

In other news, COO Taylor L. Reid purchased 45,060 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $2.76 per share, with a total value of $124,365.60. Following the acquisition, the chief operating officer now directly owns 1,462,819 shares in the company, valued at approximately $4,037,380.44. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John E. Hagale purchased 30,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average cost of $2.85 per share, with a total value of $85,500.00. Following the acquisition, the director now owns 120,480 shares in the company, valued at $343,368. The disclosure for this purchase can be found here. Insiders have bought 105,060 shares of company stock worth $292,666 over the last ninety days. 1.70% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in OAS. CWM Advisors LLC boosted its stake in shares of Oasis Petroleum by 8.3% during the second quarter. CWM Advisors LLC now owns 27,820 shares of the energy producer’s stock valued at $158,000 after acquiring an additional 2,140 shares during the last quarter. Arizona State Retirement System boosted its position in Oasis Petroleum by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 196,328 shares of the energy producer’s stock valued at $1,115,000 after buying an additional 2,233 shares during the last quarter. Sippican Capital Advisors boosted its position in Oasis Petroleum by 12.9% in the 2nd quarter. Sippican Capital Advisors now owns 27,115 shares of the energy producer’s stock valued at $154,000 after buying an additional 3,100 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its stake in shares of Oasis Petroleum by 28.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 15,252 shares of the energy producer’s stock valued at $92,000 after purchasing an additional 3,386 shares during the period. Finally, Chilton Capital Management LLC lifted its stake in shares of Oasis Petroleum by 16.0% in the 2nd quarter. Chilton Capital Management LLC now owns 25,442 shares of the energy producer’s stock valued at $145,000 after purchasing an additional 3,500 shares during the period. Institutional investors own 98.83% of the company’s stock.

About Oasis Petroleum

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.

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