Oslo Asset Management AS Has $42.83 Million Stake in Oasis Petroleum Inc. (OAS)

Oslo Asset Management AS reduced its stake in Oasis Petroleum Inc. (NYSE:OAS) by 13.8% during the third quarter, HoldingsChannel reports. The firm owned 3,020,700 shares of the energy producer’s stock after selling 483,000 shares during the quarter. Oasis Petroleum accounts for about 11.3% of Oslo Asset Management AS’s investment portfolio, making the stock its 2nd largest holding. Oslo Asset Management AS’s holdings in Oasis Petroleum were worth $42,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new position in Oasis Petroleum in the 2nd quarter valued at approximately $734,000. Oakbrook Investments LLC acquired a new stake in Oasis Petroleum in the 2nd quarter valued at $131,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Oasis Petroleum in the 3rd quarter valued at $157,000. CIBC Asset Management Inc acquired a new stake in Oasis Petroleum in the 2nd quarter valued at $150,000. Finally, World Asset Management Inc acquired a new stake in Oasis Petroleum in the 2nd quarter valued at $171,000. Institutional investors own 97.28% of the company’s stock.

Several analysts recently issued reports on OAS shares. Piper Jaffray Companies reissued an “overweight” rating on shares of Oasis Petroleum in a research report on Friday, September 28th. Morgan Stanley reduced their price target on shares of Oasis Petroleum from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. KLR Group reaffirmed a “buy” rating and set a $18.00 price objective on shares of Oasis Petroleum in a report on Monday, August 20th. Oppenheimer started coverage on shares of Oasis Petroleum in a report on Wednesday, October 3rd. They set a “market perform” rating on the stock. Finally, Jefferies Financial Group raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Monday, October 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $14.37.

Shares of OAS traded down $0.10 during midday trading on Tuesday, hitting $9.59. 667,189 shares of the company traded hands, compared to its average volume of 8,160,791. Oasis Petroleum Inc. has a one year low of $7.31 and a one year high of $14.57. The stock has a market cap of $3.24 billion, a PE ratio of 477.50, a P/E/G ratio of 1.43 and a beta of 2.03. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.77.

Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Monday, August 6th. The energy producer reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. Oasis Petroleum had a positive return on equity of 2.53% and a negative net margin of 14.48%. The firm had revenue of $501.30 million for the quarter, compared to analysts’ expectations of $404.75 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s revenue was up 97.3% on a year-over-year basis. Analysts expect that Oasis Petroleum Inc. will post 0.48 earnings per share for the current fiscal year.

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 Permian Basin. As of December 31, 2017, the company had 502,660 net leasehold acres in the Williston Basin; and approximately 312.2 million barrels of oil equivalent of estimated net proved reserves.

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Institutional Ownership by Quarter for Oasis Petroleum (NYSE:OAS)

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