Oasis Petroleum (NYSE:OAS) was downgraded by equities research analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. Piper Jaffray Companies also issued estimates for Oasis Petroleum’s Q4 2018 earnings at $0.06 EPS, FY2018 earnings at $0.35 EPS, Q1 2019 earnings at ($0.02) EPS, Q2 2019 earnings at ($0.02) EPS, Q3 2019 earnings at $0.00 EPS, Q4 2019 earnings at $0.03 EPS, FY2019 earnings at ($0.01) EPS, Q1 2020 earnings at $0.03 EPS, Q2 2020 earnings at $0.02 EPS, Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.07 EPS and FY2020 earnings at $0.16 EPS.
A number of other analysts also recently issued reports on the company. Wolfe Research raised Oasis Petroleum from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 17th. Jefferies Financial Group raised Oasis Petroleum from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Monday, October 15th. Williams Capital set a $17.00 price target on Oasis Petroleum and gave the stock a “buy” rating in a report on Tuesday, November 6th. Morgan Stanley cut their price target on Oasis Petroleum from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. Finally, Oppenheimer began coverage on Oasis Petroleum in a report on Wednesday, October 3rd. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. Oasis Petroleum presently has an average rating of “Hold” and a consensus target price of $13.95.
NYSE:OAS opened at $6.52 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.59 and a quick ratio of 0.55. Oasis Petroleum has a 1 year low of $4.74 and a 1 year high of $14.57. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 325.75, a PEG ratio of 0.65 and a beta of 2.21.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Monday, November 5th. The energy producer reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.04). Oasis Petroleum had a positive return on equity of 3.12% and a negative net margin of 7.08%. The firm had revenue of $546.50 million during the quarter, compared to analysts’ expectations of $455.65 million. Oasis Petroleum’s quarterly revenue was up 79.4% compared to the same quarter last year. On average, equities research analysts predict that Oasis Petroleum will post 0.38 EPS for the current fiscal year.
In related news, insider Taylor L. Reid sold 30,000 shares of Oasis Petroleum stock in a transaction on Monday, November 19th. The stock was sold at an average price of $8.04, for a total transaction of $241,200.00. Following the completion of the sale, the insider now owns 1,216,576 shares of the company’s stock, valued at $9,781,271.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of OAS. Tokio Marine Asset Management Co. Ltd. bought a new stake in Oasis Petroleum during the third quarter worth about $157,000. Cerebellum GP LLC bought a new stake in Oasis Petroleum during the fourth quarter worth about $268,000. Tower Research Capital LLC TRC lifted its stake in Oasis Petroleum by 32.9% during the second quarter. Tower Research Capital LLC TRC now owns 23,405 shares of the energy producer’s stock worth $303,000 after purchasing an additional 5,794 shares during the last quarter. Cpwm LLC bought a new stake in Oasis Petroleum during the third quarter worth about $306,000. Finally, Commonwealth Bank of Australia bought a new stake in Oasis Petroleum during the third quarter worth about $323,000. 97.42% of the stock is owned by hedge funds and other institutional investors.
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 Permian Basin. As of December 31, 2017, the company had 502,660 net leasehold acres in the Williston Basin; and approximately 312.2 million barrels of oil equivalent of estimated net proved reserves.
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