Shares of Oasis Petroleum (NYSE:OAS) gapped down before the market opened on Thursday . The stock had previously closed at $13.09, but opened at $12.76. Oasis Petroleum shares last traded at $12.66, with a volume of 9648623 shares.
Several brokerages have recently commented on OAS. Stephens set a $15.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a report on Tuesday, April 24th. ValuEngine upgraded Oasis Petroleum from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets increased their target price on Oasis Petroleum from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 1st. KeyCorp set a $13.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a report on Tuesday, May 8th. Finally, Morgan Stanley upgraded Oasis Petroleum from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $12.52 to $19.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company. Oasis Petroleum has a consensus rating of “Hold” and an average target price of $12.59.
The company has a debt-to-equity ratio of 0.69, a current ratio of 0.63 and a quick ratio of 0.59. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 607.50, a PEG ratio of 2.25 and a beta of 2.08.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Monday, May 7th. The energy producer reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. Oasis Petroleum had a return on equity of 1.39% and a net margin of 7.26%. The firm had revenue of $421.20 million for the quarter, compared to analyst estimates of $370.13 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 47.7% on a year-over-year basis. equities research analysts anticipate that Oasis Petroleum will post 0.38 earnings per share for the current fiscal year.
In other Oasis Petroleum news, insider Taylor L. Reid sold 30,000 shares of the stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $12.22, for a total value of $366,600.00. Following the transaction, the insider now owns 1,232,534 shares of the company’s stock, valued at $15,061,565.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael H. Lou sold 16,000 shares of the stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $12.27, for a total value of $196,320.00. Following the completion of the transaction, the vice president now directly owns 434,959 shares in the company, valued at approximately $5,336,946.93. The disclosure for this sale can be found here. Insiders sold 65,181 shares of company stock worth $791,174 in the last three months. Insiders own 1.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Trexquant Investment LP lifted its stake in Oasis Petroleum by 55.5% in the first quarter. Trexquant Investment LP now owns 432,327 shares of the energy producer’s stock valued at $3,502,000 after buying an additional 154,265 shares during the period. Geode Capital Management LLC lifted its stake in Oasis Petroleum by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 2,102,994 shares of the energy producer’s stock valued at $17,685,000 after buying an additional 167,734 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Oasis Petroleum by 2,640.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 107,985 shares of the energy producer’s stock worth $908,000 after purchasing an additional 104,045 shares during the period. Encap Energy Capital Fund Viii L.P. acquired a new stake in shares of Oasis Petroleum during the fourth quarter worth about $386,860,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in shares of Oasis Petroleum during the fourth quarter worth about $1,883,000. 91.99% of the stock is currently owned by hedge funds and other institutional investors.
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 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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