Oasis Petroleum Inc. (NYSE:OAS) – Research analysts at Piper Jaffray Companies dropped their Q3 2019 earnings estimates for shares of Oasis Petroleum in a research report issued on Sunday, October 20th. Piper Jaffray Companies analyst R. Todd now anticipates that the energy producer will post earnings of $0.03 per share for the quarter, down from their previous estimate of $0.04. Piper Jaffray Companies currently has a “Hold” rating and a $5.00 target price on the stock. Piper Jaffray Companies also issued estimates for Oasis Petroleum’s Q4 2019 earnings at $0.03 EPS, FY2019 earnings at $0.08 EPS and FY2021 earnings at ($0.17) EPS.
A number of other research analysts have also recently weighed in on the company. Barclays assumed coverage on Oasis Petroleum in a report on Friday, August 30th. They issued an “equal weight” rating and a $3.50 target price on the stock. LADENBURG THALM/SH SH cut Oasis Petroleum from a “buy” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $5.00 in a report on Monday, August 26th. Royal Bank of Canada set a $8.00 target price on Oasis Petroleum and gave the company a “buy” rating in a report on Friday, August 9th. SunTrust Banks cut Oasis Petroleum from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Finally, Morgan Stanley lifted their target price on Oasis Petroleum from $3.75 to $4.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. 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 company. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.33.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings data on Tuesday, August 6th. The energy producer reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $529.41 million during the quarter, compared to the consensus estimate of $406.63 million. Oasis Petroleum had a return on equity of 0.59% and a net margin of 9.43%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share.
Large investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC bought a new position in Oasis Petroleum in the 2nd quarter worth approximately $25,706,000. Point72 Asset Management L.P. acquired a new position in shares of Oasis Petroleum in the second quarter worth $20,355,000. UBS Group AG increased its stake in shares of Oasis Petroleum by 410.0% in the second quarter. UBS Group AG now owns 3,427,982 shares of the energy producer’s stock worth $19,471,000 after acquiring an additional 2,755,871 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Oasis Petroleum by 5.7% in the second quarter. Vanguard Group Inc. now owns 30,704,393 shares of the energy producer’s stock worth $174,400,000 after acquiring an additional 1,661,458 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Oasis Petroleum by 24.9% in the second quarter. Macquarie Group Ltd. now owns 6,116,897 shares of the energy producer’s stock worth $34,744,000 after acquiring an additional 1,218,449 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.
In other Oasis Petroleum news, CEO Thomas B. Nusz purchased 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $2.76 per share, for a total transaction of $82,800.00. Following the completion of the purchase, the chief executive officer now owns 1,830,332 shares in the company, valued at approximately $5,051,716.32. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Taylor L. Reid purchased 45,060 shares of the business’s stock in a transaction that occurred 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 owns 1,462,819 shares of the company’s stock, valued at approximately $4,037,380.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 105,060 shares of company stock worth $292,666. 1.70% of the stock is currently owned by insiders.
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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