Morgan Stanley Trims Oasis Petroleum (NYSE:OAS) Target Price to $5.50

Oasis Petroleum (NYSE:OAS) had its target price lowered by Morgan Stanley from $6.00 to $5.50 in a research report released on Friday, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the energy producer’s stock.

Several other analysts also recently weighed in on the stock. Ifs Securities upgraded shares of SRC Energy from an outperform rating to a strong-buy rating in a research report on Tuesday, April 23rd. Stifel Nicolaus set a $14.00 price objective on shares of Oasis Petroleum and gave the company a buy rating in a research report on Wednesday, June 19th. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, May 28th. Williams Capital reissued a buy rating and set a $9.00 target price on shares of Oasis Petroleum in a research note on Wednesday, May 8th. Finally, SunTrust Banks cut shares of SUNDANCE ENERGY/S to a hold rating in a research note on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. Oasis Petroleum has an average rating of Hold and a consensus target price of $12.17.

Oasis Petroleum stock opened at $4.93 on Friday. The business has a 50-day simple moving average of $5.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.73 and a current ratio of 0.78. Oasis Petroleum has a 1 year low of $4.54 and a 1 year high of $14.57. The company has a market cap of $1.65 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.96 and a beta of 2.05.

Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings results on Tuesday, May 7th. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.06). The business had revenue of $575.73 million during the quarter, compared to the consensus estimate of $421.65 million. Oasis Petroleum had a positive return on equity of 1.14% and a negative net margin of 6.78%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, equities analysts expect that Oasis Petroleum will post 0.18 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Oasis Petroleum by 36.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,953 shares of the energy producer’s stock worth $44,000 after acquiring an additional 2,129 shares in the last quarter. Carroll Financial Associates Inc. purchased a new position in shares of Oasis Petroleum in the second quarter worth approximately $71,000. Virtu Financial LLC purchased a new position in shares of Oasis Petroleum in the first quarter worth approximately $91,000. Piedmont Investment Advisors Inc. increased its position in shares of Oasis Petroleum by 28.5% in the first quarter. Piedmont Investment Advisors Inc. now owns 15,252 shares of the energy producer’s stock worth $92,000 after acquiring an additional 3,386 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new position in shares of Oasis Petroleum in the second quarter worth approximately $89,000. 91.86% of the stock is currently owned by institutional investors.

Oasis Petroleum Company Profile

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.

Featured Story: Gap Down Stocks

Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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.