Brokerages forecast that Oasis Petroleum Inc. (NYSE:OAS) will post sales of $443.25 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Oasis Petroleum’s earnings, with the lowest sales estimate coming in at $383.00 million and the highest estimate coming in at $481.01 million. Oasis Petroleum reported sales of $599.76 million in the same quarter last year, which would suggest a negative year over year growth rate of 26.1%. The business is expected to announce its next quarterly earnings report on Tuesday, February 25th.
According to Zacks, analysts expect that Oasis Petroleum will report full year sales of $2.02 billion for the current financial year, with estimates ranging from $1.97 billion to $2.10 billion. For the next financial year, analysts anticipate that the business will post sales of $1.73 billion, with estimates ranging from $1.51 billion to $1.90 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Oasis Petroleum.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings data on Tuesday, November 5th. The energy producer reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). The firm had revenue of $482.74 million during the quarter, compared to analyst estimates of $392.16 million. Oasis Petroleum had a net margin of 7.78% and a negative return on equity of 0.50%. Oasis Petroleum’s revenue for the quarter was down 28.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS.
OAS has been the subject of a number of recent analyst reports. Wolfe Research downgraded shares of Oasis Petroleum from a “peer perform” rating to an “underperform” rating and set a $3.00 price objective for the company. in a research report on Tuesday, October 15th. Barclays initiated coverage on shares of Oasis Petroleum in a research report on Friday, August 30th. They set an “equal weight” rating and a $3.50 price target for the company. Piper Jaffray Companies set a $5.00 price target on shares of Oasis Petroleum and gave the company a “hold” rating in a research report on Friday, August 16th. ValuEngine upgraded shares of Oasis Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, MKM Partners initiated coverage on shares of Oasis Petroleum in a research report on Thursday, August 22nd. They set a “buy” rating and a $5.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. Oasis Petroleum presently has an average rating of “Hold” and a consensus price target of $5.97.
Hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY increased its stake in shares of Oasis Petroleum by 14.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 178,763 shares of the energy producer’s stock worth $619,000 after purchasing an additional 22,058 shares in the last quarter. Millennium Management LLC increased its stake in shares of Oasis Petroleum by 45,150.4% during the 3rd quarter. Millennium Management LLC now owns 11,391,327 shares of the energy producer’s stock worth $39,413,000 after purchasing an additional 11,366,153 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Oasis Petroleum during the 3rd quarter worth approximately $821,000. Bluefin Trading LLC purchased a new position in shares of Oasis Petroleum during the 3rd quarter worth approximately $132,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Oasis Petroleum by 42.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 31,367 shares of the energy producer’s stock worth $109,000 after purchasing an additional 9,273 shares in the last quarter. Institutional investors own 95.34% of the company’s stock.
NYSE:OAS traded down $0.29 during mid-day trading on Monday, reaching $2.68. The stock had a trading volume of 13,714,207 shares, compared to its average volume of 10,309,454. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.83 and a quick ratio of 0.77. Oasis Petroleum has a twelve month low of $2.21 and a twelve month high of $7.15. The business has a 50 day simple moving average of $2.71 and a 200 day simple moving average of $3.76.
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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