Zacks: Analysts Anticipate Oasis Petroleum Inc. (NYSE:OAS) Will Post Earnings of $0.02 Per Share

Equities analysts expect Oasis Petroleum Inc. (NYSE:OAS) to post earnings of $0.02 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Oasis Petroleum’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at $0.09. Oasis Petroleum reported earnings per share of $0.08 in the same quarter last year, which indicates a negative year over year growth rate of 75%. The company is expected to announce its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Oasis Petroleum will report full year earnings of $0.06 per share for the current fiscal year, with EPS estimates ranging from ($0.16) to $0.23. For the next fiscal year, analysts forecast that the business will report earnings of $0.23 per share, with EPS estimates ranging from ($0.61) to $2.28. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Oasis Petroleum.

Oasis Petroleum (NYSE:OAS) last announced its earnings results on Tuesday, August 6th. The energy producer reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Oasis Petroleum had a return on equity of 0.59% and a net margin of 9.43%. The firm had revenue of $529.41 million during the quarter, compared to analyst estimates of $406.63 million. During the same period last year, the firm posted $0.10 EPS. The business’s revenue was down 7.7% compared to the same quarter last year.

Several equities research analysts have recently issued reports on OAS shares. Morgan Stanley decreased their target price on Oasis Petroleum from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Friday, July 12th. SunTrust Banks downgraded Oasis Petroleum from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Evercore ISI set a $9.00 price target on Oasis Petroleum and gave the stock a “hold” rating in a research note on Wednesday, August 7th. ValuEngine upgraded Oasis Petroleum from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 28th. Finally, Stifel Nicolaus set a $14.00 price target on Oasis Petroleum and gave the stock a “buy” rating in a research note on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $9.50.

Shares of Oasis Petroleum stock traded down $0.04 during trading hours on Thursday, hitting $3.30. 4,423,562 shares of the company’s stock traded hands, compared to its average volume of 13,289,187. Oasis Petroleum has a 12-month low of $2.41 and a 12-month high of $14.57. The stock has a market capitalization of $978.49 million, a price-to-earnings ratio of 12.67, a PEG ratio of 3.52 and a beta of 2.04. The company has a fifty day simple moving average of $4.29 and a 200-day simple moving average of $5.38. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.79.

In related news, COO Taylor L. Reid bought 45,060 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $2.76 per share, for a total transaction of $124,365.60. Following the purchase, the chief operating officer now directly owns 1,462,819 shares in the company, valued at $4,037,380.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas B. Nusz bought 30,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $2.76 per share, with a total value of $82,800.00. Following the purchase, the chief executive officer now owns 1,830,332 shares in the company, valued at $5,051,716.32. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 105,060 shares of company stock valued at $292,666. 1.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System boosted its position in shares of Oasis Petroleum by 1.1% during the 1st quarter. Arizona State Retirement System now owns 194,095 shares of the energy producer’s stock valued at $1,172,000 after acquiring an additional 2,111 shares during the last quarter. CWM Advisors LLC boosted its position in shares of Oasis Petroleum by 8.3% during the 2nd quarter. CWM Advisors LLC now owns 27,820 shares of the energy producer’s stock valued at $158,000 after acquiring an additional 2,140 shares during the last quarter. Sippican Capital Advisors boosted its position in shares of Oasis Petroleum by 12.9% during the 2nd quarter. Sippican Capital Advisors now owns 27,115 shares of the energy producer’s stock valued at $154,000 after acquiring an additional 3,100 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in shares of Oasis Petroleum by 28.5% during the 1st 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. Finally, Chilton Capital Management LLC boosted its position in shares of Oasis Petroleum by 16.0% during the 2nd quarter. Chilton Capital Management LLC now owns 25,442 shares of the energy producer’s stock valued at $145,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 92.79% 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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Earnings History and Estimates for Oasis Petroleum (NYSE:OAS)

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