An issue of Oasis Petroleum Inc. (NYSE:OAS) bonds fell 1% against their face value during trading on Tuesday. The debt issue has a 6.875% coupon and is set to mature on March 15, 2022. The bonds in the issue are now trading at $92.47 and were trading at $92.63 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
A number of analysts have commented on the stock. Seaport Global Securities cut shares of Oasis Petroleum from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Tuesday, June 7th. Piper Jaffray Cos. assumed coverage on shares of Oasis Petroleum in a report on Friday, June 10th. They set a “neutral” rating and a $13.00 target price for the company. Simmons assumed coverage on shares of Oasis Petroleum in a report on Friday, June 10th. They set a “neutral” rating and a $13.00 target price for the company. Vetr raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $11.33 target price for the company in a report on Thursday, June 9th. Finally, Citigroup Inc. upped their target price on shares of Oasis Petroleum from $13.00 to $14.00 and gave the company a “buy” rating in a report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.83.
Shares of Oasis Petroleum Inc. (NYSE:OAS) opened at 9.18 on Wednesday. Oasis Petroleum Inc. has a 52 week low of $3.40 and a 52 week high of $14.15. The stock’s market cap is $1.66 billion. The stock has a 50 day moving average of $9.61 and a 200 day moving average of $9.09.
Oasis Petroleum (NYSE:OAS) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The firm earned $179 million during the quarter, compared to analyst estimates of $184.47 million. Oasis Petroleum had a negative net margin of 17.91% and a negative return on equity of 1.22%. The business’s quarterly revenue was down 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, analysts expect that Oasis Petroleum Inc. will post ($0.62) earnings per share for the current year.
In other news, Chairman Thomas B. Nusz sold 200,000 shares of Oasis Petroleum stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $8.92, for a total transaction of $1,784,000.00. Following the completion of the transaction, the chairman now directly owns 1,590,772 shares of the company’s stock, valued at approximately $14,189,686.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of OAS. IFP Advisors Inc boosted its stake in Oasis Petroleum by 0.9% in the second quarter. IFP Advisors Inc now owns 10,800 shares of the company’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Seven Eight Capital LLC bought a new stake in Oasis Petroleum during the first quarter worth about $126,000. Advisory Services Network LLC boosted its stake in Oasis Petroleum by 10.5% in the second quarter. Advisory Services Network LLC now owns 13,700 shares of the company’s stock worth $128,000 after buying an additional 1,300 shares in the last quarter. Sanders Morris Harris Inc. boosted its stake in Oasis Petroleum by 50.0% in the second quarter. Sanders Morris Harris Inc. now owns 15,000 shares of the company’s stock worth $140,000 after buying an additional 5,000 shares in the last quarter. Finally, Atria Investments LLC bought a new stake in Oasis Petroleum during the second quarter worth about $143,000. 89.73% of the stock is owned by hedge funds and other institutional investors.
About Oasis Petroleum
Oasis Petroleum Inc is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its segments include Exploration and Production, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.
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