Jefferies Financial Group Analysts Cut Earnings Estimates for Oasis Petroleum Inc. (OAS)

Oasis Petroleum Inc. (NYSE:OAS) – Equities research analysts at Jefferies Financial Group reduced their FY2018 earnings estimates for shares of Oasis Petroleum in a research report issued on Wednesday, November 7th. Jefferies Financial Group analyst T. Hughes now forecasts that the energy producer will earn $0.42 per share for the year, down from their prior forecast of $0.56. Jefferies Financial Group currently has a “Buy” rating and a $15.00 price objective on the stock. Jefferies Financial Group also issued estimates for Oasis Petroleum’s Q4 2018 earnings at $0.14 EPS, Q1 2019 earnings at $0.28 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $0.98 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.28 EPS and FY2020 earnings at $1.13 EPS.

Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings results on Monday, November 5th. The energy producer reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). Oasis Petroleum had a negative net margin of 7.08% and a positive return on equity of 3.12%. The company had revenue of $546.50 million during the quarter, compared to the consensus estimate of $455.65 million. The firm’s quarterly revenue was up 79.4% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Oasis Petroleum in a research note on Friday, September 28th. Wolfe Research raised shares of Oasis Petroleum from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 17th. KLR Group reiterated a “buy” rating and set a $18.00 price objective on shares of Oasis Petroleum in a report on Monday, August 20th. Morgan Stanley reduced their price objective on shares of 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 assumed coverage on shares of Oasis Petroleum in a report on Wednesday, October 3rd. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $14.39.

OAS opened at $9.36 on Friday. Oasis Petroleum has a 1-year low of $7.31 and a 1-year high of $14.57. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 468.00, a P/E/G ratio of 1.45 and a beta of 2.22.

A number of institutional investors have recently added to or reduced their stakes in OAS. Pine Brook Road Advisors LP purchased a new position in Oasis Petroleum during the second quarter worth about $111,635,000. GMT Capital Corp boosted its holdings in Oasis Petroleum by 43.1% during the second quarter. GMT Capital Corp now owns 15,467,500 shares of the energy producer’s stock worth $200,613,000 after purchasing an additional 4,655,700 shares during the last quarter. BlueMountain Capital Management LLC boosted its holdings in Oasis Petroleum by 744.5% during the second quarter. BlueMountain Capital Management LLC now owns 3,903,089 shares of the energy producer’s stock worth $50,623,000 after purchasing an additional 3,440,937 shares during the last quarter. Exencial Wealth Advisors LLC purchased a new position in Oasis Petroleum during the third quarter worth about $37,459,000. Finally, Mesirow Financial Investment Management Equity Management purchased a new position in Oasis Petroleum during the second quarter worth about $15,503,000. Institutional investors and hedge funds own 97.19% 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 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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Earnings History and Estimates for Oasis Petroleum (NYSE:OAS)

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