Zacks Investment Research upgraded shares of Oasis Petroleum (NYSE:OAS) from a sell rating to a hold rating in a report published on Thursday.
According to Zacks, “Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas resources. The Company is currently focused on exploiting resource potential from the Bakken and Three Forks formations, which are present across a substantial majority of its acreage. Oasis Petroleum Inc. is based in Houston, Texas. “
A number of other brokerages have also weighed in on OAS. KeyCorp reiterated an overweight rating on shares of Oasis Petroleum in a report on Wednesday, November 8th. Royal Bank of Canada reiterated an outperform rating and issued a $13.00 price target (up previously from $12.00) on shares of Oasis Petroleum in a report on Thursday, November 9th. Cowen reiterated a buy rating and issued a $12.00 price target on shares of Oasis Petroleum in a report on Friday, November 10th. SunTrust Banks lowered shares of Oasis Petroleum from a buy rating to a hold rating and set a $11.00 price target on the stock. in a report on Tuesday, December 12th. Finally, Raymond James Financial set a $14.00 price target on shares of Oasis Petroleum and gave the company a buy rating in a report on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $11.50.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Tuesday, February 27th. The energy producer reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. The company had revenue of $404.47 million for the quarter, compared to analyst estimates of $328.78 million. Oasis Petroleum had a net margin of 9.92% and a return on equity of 0.16%. equities research analysts expect that Oasis Petroleum will post 0.21 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in Oasis Petroleum by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 184,271 shares of the energy producer’s stock worth $1,484,000 after buying an additional 4,268 shares during the period. Nationwide Fund Advisors increased its stake in Oasis Petroleum by 3.9% during the 3rd quarter. Nationwide Fund Advisors now owns 174,118 shares of the energy producer’s stock worth $1,588,000 after buying an additional 6,563 shares during the period. California Public Employees Retirement System increased its stake in Oasis Petroleum by 1.3% during the 3rd quarter. California Public Employees Retirement System now owns 551,500 shares of the energy producer’s stock worth $5,030,000 after buying an additional 6,900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Oasis Petroleum by 103.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,165 shares of the energy producer’s stock worth $138,000 after buying an additional 7,720 shares during the period. Finally, Rhumbline Advisers increased its stake in Oasis Petroleum by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 366,534 shares of the energy producer’s stock worth $3,343,000 after buying an additional 9,515 shares during the period. 89.05% of the stock is currently owned by hedge funds and other institutional investors.
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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, Well Services, and Midstream Services.
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