Brokerages expect Oasis Petroleum Inc. (NYSE:OAS) to announce ($0.06) earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Oasis Petroleum’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at ($0.27). Oasis Petroleum posted earnings of ($0.02) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 200%. The business is scheduled to issue its next earnings results on Tuesday, February 25th.
According to Zacks, analysts expect that Oasis Petroleum will report full-year earnings of ($0.11) per share for the current fiscal year, with EPS estimates ranging from ($0.31) to $0.06. For the next fiscal year, analysts forecast that the company will report earnings of ($0.31) per share, with EPS estimates ranging from ($1.32) to $0.04. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Oasis Petroleum.
Oasis Petroleum (NYSE:OAS) last issued its earnings results on Tuesday, November 5th. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). Oasis Petroleum had a negative return on equity of 0.50% and a net margin of 7.78%. The company had revenue of $482.74 million during the quarter, compared to analysts’ expectations of $392.16 million. During the same quarter in the prior year, the business posted $0.08 EPS. The company’s revenue for the quarter was down 28.4% compared to the same quarter last year.
OAS has been the topic of several recent research reports. Raymond James downgraded shares of Oasis Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $7.50 to $4.00 in a research report on Thursday, August 8th. Piper Jaffray Companies set a $5.00 price target on shares of Oasis Petroleum and gave the stock a “hold” rating in a research report on Friday, August 16th. Williams Capital downgraded shares of Oasis Petroleum from a “buy” rating to a “hold” rating and decreased their price target for the stock from $7.50 to $5.00 in a research report on Wednesday, August 7th. Morgan Stanley increased their price target on shares of Oasis Petroleum from $3.75 to $4.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada set a $8.00 price target on shares of Oasis Petroleum and gave the stock a “buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company’s stock. Oasis Petroleum presently has a consensus rating of “Hold” and an average price target of $6.44.
OAS traded up $0.02 during trading on Thursday, hitting $2.78. The company’s stock had a trading volume of 9,394,528 shares, compared to its average volume of 13,760,915. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.72. Oasis Petroleum has a one year low of $2.41 and a one year high of $8.60. The firm has a market cap of $886.82 million, a PE ratio of 10.69 and a beta of 2.20. The business’s 50 day simple moving average is $3.04 and its 200-day simple moving average is $4.17.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Oasis Petroleum by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 30,704,393 shares of the energy producer’s stock valued at $174,400,000 after purchasing an additional 1,661,458 shares during the period. Oslo Asset Management AS increased its holdings in Oasis Petroleum by 16.8% in the 2nd quarter. Oslo Asset Management AS now owns 7,716,580 shares of the energy producer’s stock valued at $43,830,000 after acquiring an additional 1,108,000 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Oasis Petroleum by 24.9% in the 2nd quarter. Macquarie Group Ltd. now owns 6,116,897 shares of the energy producer’s stock valued at $34,744,000 after acquiring an additional 1,218,449 shares during the last quarter. Northern Trust Corp increased its holdings in Oasis Petroleum by 3.6% in the 2nd quarter. Northern Trust Corp now owns 4,777,881 shares of the energy producer’s stock valued at $27,138,000 after acquiring an additional 165,225 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Oasis Petroleum in the 2nd quarter valued at $25,706,000. Hedge funds and other institutional investors own 98.37% 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.
Read More: How is the LIBOR rate calculated?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Oasis Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oasis Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.