Oasis Petroleum (NYSE:OAS) Issues Quarterly Earnings Results

Oasis Petroleum (NYSE:OAS) issued its quarterly earnings data on Tuesday. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04), Briefing.com reports. The firm had revenue of $482.74 million for the quarter, compared to analysts’ expectations of $392.16 million. Oasis Petroleum had a negative return on equity of 0.50% and a net margin of 7.78%. The firm’s revenue was down 28.4% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share.

NYSE:OAS traded up $0.10 during midday trading on Friday, hitting $3.11. 313,997 shares of the company traded hands, compared to its average volume of 11,897,455. The firm’s fifty day moving average is $3.16 and its 200-day moving average is $4.29. Oasis Petroleum has a 12-month low of $2.41 and a 12-month high of $10.21. The firm has a market capitalization of $939.86 million, a P/E ratio of 11.98 and a beta of 2.20. The company has a current ratio of 0.84, a quick ratio of 0.79 and a debt-to-equity ratio of 0.75.

In other Oasis Petroleum news, COO Taylor L. Reid bought 45,060 shares of Oasis Petroleum stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $2.76 per share, for a total transaction of $124,365.60. Following the completion of the purchase, the chief operating officer now directly owns 1,462,819 shares in the company, valued at approximately $4,037,380.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas B. Nusz bought 30,000 shares of Oasis Petroleum 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 $82,800.00. Following the purchase, the chief executive officer now owns 1,830,332 shares of the company’s stock, valued at $5,051,716.32. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company’s stock.

Several brokerages have recently issued reports on OAS. Raymond James cut Oasis Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $7.50 to $4.00 in a report on Thursday, August 8th. LADENBURG THALM/SH SH cut Oasis Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Monday, August 26th. Evercore ISI set a $9.00 price objective on Oasis Petroleum and gave the stock a “hold” rating in a report on Wednesday, August 7th. ValuEngine raised Oasis Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research cut Oasis Petroleum from a “peer perform” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. Oasis Petroleum has a consensus rating of “Hold” and an average price target of $6.81.

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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Earnings History for Oasis Petroleum (NYSE:OAS)

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