HITE Hedge Asset Management LLC reduced its stake in Oasis Midstream Partners LP (NYSE:OMP) by 6.9% during the first quarter, HoldingsChannel reports. The fund owned 558,118 shares of the company’s stock after selling 41,051 shares during the quarter. Oasis Midstream Partners makes up 1.8% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 20th biggest position. HITE Hedge Asset Management LLC’s holdings in Oasis Midstream Partners were worth $11,341,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its stake in Oasis Midstream Partners by 90.0% in the fourth quarter. Cohen & Steers Inc. now owns 226,991 shares of the company’s stock valued at $3,630,000 after acquiring an additional 107,544 shares in the last quarter. Globeflex Capital L P acquired a new stake in Oasis Midstream Partners in the first quarter valued at approximately $1,525,000. Citigroup Inc. boosted its stake in Oasis Midstream Partners by 207.4% in the fourth quarter. Citigroup Inc. now owns 99,767 shares of the company’s stock valued at $1,595,000 after acquiring an additional 67,317 shares in the last quarter. Deutsche Bank AG boosted its stake in Oasis Midstream Partners by 39.7% in the fourth quarter. Deutsche Bank AG now owns 161,019 shares of the company’s stock valued at $2,574,000 after acquiring an additional 45,719 shares in the last quarter. Finally, Barclays PLC boosted its stake in Oasis Midstream Partners by 149.5% in the fourth quarter. Barclays PLC now owns 52,708 shares of the company’s stock valued at $843,000 after acquiring an additional 31,583 shares in the last quarter. Hedge funds and other institutional investors own 19.94% of the company’s stock.
Several brokerages have weighed in on OMP. Zacks Investment Research upgraded shares of Oasis Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research note on Wednesday, May 15th. Wells Fargo & Co set a $24.00 price target on shares of Oasis Midstream Partners and gave the stock a “hold” rating in a report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Oasis Midstream Partners presently has an average rating of “Buy” and a consensus price target of $26.38.
Oasis Midstream Partners (NYSE:OMP) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The business had revenue of $91.65 million during the quarter, compared to analysts’ expectations of $85.60 million. Oasis Midstream Partners had a net margin of 20.42% and a return on equity of 10.46%. As a group, sell-side analysts forecast that Oasis Midstream Partners LP will post 3.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 17th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.63%. This is a boost from Oasis Midstream Partners’s previous quarterly dividend of $0.45. Oasis Midstream Partners’s dividend payout ratio (DPR) is currently 103.30%.
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Oasis Midstream Partners Company Profile
Oasis Midstream Partners LP provides crude oil, natural gas, and water-related midstream services in North America. It offers natural gas gathering, compression, processing, and gas lift services; crude oil gathering, stabilization, blending, and storage services; produced and flowback water gathering and disposal services; freshwater supply and distribution services; and crude oil transportation services from the Wild Basin operating area to Johnson's Corner.
Further Reading: Inflation
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