Zacks Investment Research Lowers Oasis Midstream Partners (NYSE:OMP) to Hold

Zacks Investment Research lowered shares of Oasis Midstream Partners (NYSE:OMP) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Oasis Midstream Partners LP is a master limited partnership company. It owns, develops, operate and acquire a diversified portfolio of midstream assets primarily in North America. The Company’s midstream services include gas gathering, compression, processing and gas lift services; crude gathering, stabilization, blending, storage and transportation services; produced water gathering and disposal services; and freshwater distribution services. It principally operates primary areas include Wild Basin and Outside of the Wild Basin. Oasis Midstream Partners LP is based in Houston, United States. “

Several other equities research analysts have also recently commented on the company. Piper Jaffray Companies began coverage on Oasis Midstream Partners in a research note on Wednesday, July 17th. They issued an overweight rating and a $28.00 price target for the company. ValuEngine cut Oasis Midstream Partners from a sell rating to a strong sell rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $26.00.

Shares of NYSE OMP opened at $16.53 on Tuesday. The company has a market cap of $558.63 million, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.49 and a beta of 1.47. The firm has a 50 day moving average price of $20.93. Oasis Midstream Partners has a 52 week low of $14.98 and a 52 week high of $24.21. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.62.

Oasis Midstream Partners (NYSE:OMP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). The firm had revenue of $97.64 million during the quarter, compared to the consensus estimate of $108.75 million. Oasis Midstream Partners had a net margin of 22.65% and a return on equity of 12.81%. Analysts predict that Oasis Midstream Partners will post 3.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Friday, August 16th will be paid a $0.49 dividend. This is a boost from Oasis Midstream Partners’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.96 annualized dividend and a dividend yield of 11.86%. Oasis Midstream Partners’s payout ratio is presently 103.30%.

Several hedge funds and other institutional investors have recently made changes to their positions in OMP. Globeflex Capital L P acquired a new position in shares of Oasis Midstream Partners during the first quarter worth approximately $1,525,000. Deutsche Bank AG lifted its holdings in shares of Oasis Midstream Partners by 39.7% during the fourth quarter. Deutsche Bank AG now owns 161,019 shares of the company’s stock worth $2,574,000 after buying an additional 45,719 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Oasis Midstream Partners by 133.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 58,259 shares of the company’s stock worth $1,253,000 after buying an additional 33,332 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Oasis Midstream Partners during the second quarter worth approximately $474,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Oasis Midstream Partners by 3.8% during the second quarter. JPMorgan Chase & Co. now owns 459,586 shares of the company’s stock worth $10,028,000 after buying an additional 16,789 shares during the last quarter. 19.76% of the stock is owned by institutional investors and hedge funds.

About Oasis Midstream Partners

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.

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