Oasis Petroleum (NYSE:OAS) Cut to “Hold” at Williams Capital

Williams Capital downgraded shares of Oasis Petroleum (NYSE:OAS) from a buy rating to a hold rating in a research report released on Wednesday, AnalystRatings.com reports. The brokerage currently has $5.00 price target on the energy producer’s stock, down from their previous price target of $7.50.

Several other brokerages have also recently commented on OAS. Morgan Stanley reduced their target price on shares of Oasis Petroleum from $6.00 to $5.50 and set an equal weight rating for the company in a report on Friday, July 12th. Stifel Nicolaus set a $14.00 target price on shares of Oasis Petroleum and gave the stock a buy rating in a report on Wednesday, June 19th. ValuEngine upgraded shares of Oasis Petroleum from a strong sell rating to a sell rating in a report on Tuesday, May 28th. Ifs Securities cut shares of Oasis Petroleum from an outperform rating to a market perform rating and reduced their target price for the stock from $8.00 to $7.00 in a report on Tuesday, April 23rd. Finally, SunTrust Banks cut shares of Oasis Petroleum from a hold rating to a sell rating in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $10.23.

Shares of OAS stock traded up $0.01 during trading hours on Wednesday, hitting $2.85. 13,222,289 shares of the company were exchanged, compared to its average volume of 11,507,118. The company has a 50 day moving average of $4.83. The company has a quick ratio of 0.73, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. Oasis Petroleum has a 52 week low of $2.41 and a 52 week high of $14.57. The stock has a market cap of $853.38 million, a P/E ratio of 10.96, a PEG ratio of 3.06 and a beta of 2.04.

Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings data on Tuesday, August 6th. The energy producer reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Oasis Petroleum had a net margin of 9.43% and a return on equity of 0.59%. The company had revenue of $529.41 million during the quarter, compared to the consensus estimate of $406.63 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Oasis Petroleum will post 0.06 earnings per share for the current fiscal year.

In other news, Director John E. Hagale purchased 30,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $2.85 per share, for a total transaction of $85,500.00. Following the completion of the purchase, the director now directly owns 120,480 shares in the company, valued at approximately $343,368. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in OAS. Carroll Financial Associates Inc. acquired a new stake in Oasis Petroleum in the second quarter valued at $71,000. Magnus Financial Group LLC acquired a new stake in Oasis Petroleum in the second quarter valued at $82,000. Raymond James Trust N.A. acquired a new stake in Oasis Petroleum in the second quarter valued at $89,000. Virtu Financial LLC acquired a new stake in Oasis Petroleum in the first quarter valued at $91,000. Finally, Piedmont Investment Advisors Inc. lifted its stake in Oasis Petroleum by 28.5% in the first quarter. Piedmont Investment Advisors Inc. now owns 15,252 shares of the energy producer’s stock valued at $92,000 after acquiring an additional 3,386 shares during the last quarter. Hedge funds and other institutional investors own 91.73% 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.

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Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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