Oasis Petroleum (NYSE:OAS) Price Target Cut to $6.00 by Analysts at Wells Fargo & Co

Oasis Petroleum (NYSE:OAS) had its price target decreased by Wells Fargo & Co from $7.00 to $6.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the energy producer’s stock.

Several other equities analysts have also commented on the stock. Raymond James lowered shares of Oasis Petroleum from a strong-buy rating to an outperform rating and lowered their price objective for the company from $7.50 to $4.00 in a research report on Thursday, August 8th. Piper Jaffray Companies set a $5.00 price objective on shares of Oasis Petroleum and gave the company a hold rating in a research report on Friday, August 16th. Royal Bank of Canada set a $8.00 price objective on shares of Oasis Petroleum and gave the company a buy rating in a research report on Friday, August 9th. Morgan Stanley lowered their price objective on shares of 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. Finally, SunTrust Banks lowered shares of Oasis Petroleum from a hold rating to a sell rating in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $7.63.

OAS stock opened at $3.86 on Friday. Oasis Petroleum has a 52 week low of $2.41 and a 52 week high of $14.57. The company has a quick ratio of 0.79, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $3.35 and a two-hundred day simple moving average of $4.97. The firm has a market capitalization of $1.25 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 15.21 and a beta of 2.20.

Oasis Petroleum (NYSE:OAS) last released its quarterly earnings data on Tuesday, August 6th. The energy producer reported $0.03 EPS for the quarter, beating 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 business had revenue of $529.41 million during the quarter, compared to analyst estimates of $406.63 million. During the same quarter last year, the business earned $0.10 earnings per share. Oasis Petroleum’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, analysts anticipate that Oasis Petroleum will post 0.02 EPS for the current year.

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

Several institutional investors have recently added to or reduced their stakes in the company. Anson Funds Management LP purchased a new position in shares of Oasis Petroleum in the 2nd quarter worth approximately $1,704,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Oasis Petroleum by 99.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 145,126 shares of the energy producer’s stock worth $824,000 after buying an additional 72,524 shares during the last quarter. Luminus Management LLC grew its position in shares of Oasis Petroleum by 201.9% in the 2nd quarter. Luminus Management LLC now owns 1,000,682 shares of the energy producer’s stock worth $5,684,000 after buying an additional 669,189 shares during the last quarter. UBS Group AG grew its position in shares of Oasis Petroleum by 410.0% in the 2nd quarter. UBS Group AG now owns 3,427,982 shares of the energy producer’s stock worth $19,471,000 after buying an additional 2,755,871 shares during the last quarter. Finally, Voleon Capital Management LP purchased a new position in shares of Oasis Petroleum in the 2nd quarter worth approximately $1,216,000. Hedge funds and other institutional investors own 98.83% of the company’s stock.

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.

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Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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