Oasis Petroleum (OAS) Upgraded at SunTrust Banks

SunTrust Banks upgraded shares of Oasis Petroleum (NYSE:OAS) from a sell rating to a hold rating in a research report released on Tuesday, Marketbeat reports. The brokerage currently has $11.00 price target on the energy producer’s stock, up from their previous price target of $9.00. SunTrust Banks also issued estimates for Oasis Petroleum’s Q4 2018 earnings at $0.13 EPS, FY2018 earnings at $0.41 EPS, FY2019 earnings at $1.07 EPS and FY2020 earnings at $1.47 EPS. The analysts noted that the move was a valuation call.

Several other analysts have also recently issued reports on OAS. Seaport Global Securities reaffirmed a buy rating on shares of Oasis Petroleum in a research note on Friday, September 7th. Piper Jaffray Companies reaffirmed a buy rating and set a $26.00 price objective on shares of Oasis Petroleum in a research note on Friday, July 20th. Jefferies Financial Group reiterated a neutral rating on shares of Oasis Petroleum in a report on Friday, July 13th. Stifel Nicolaus boosted their target price on shares of Oasis Petroleum from $10.00 to $10.50 and gave the company a hold rating in a report on Tuesday, August 7th. Finally, Susquehanna Bancshares lowered shares of Oasis Petroleum from a positive rating to a neutral rating and set a $14.00 target price on the stock. in a report on Monday, July 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $14.28.

NYSE OAS traded down $0.15 during trading hours on Tuesday, hitting $9.42. 8,829,378 shares of the company’s stock traded hands, compared to its average volume of 9,593,776. Oasis Petroleum has a 52-week low of $7.31 and a 52-week high of $14.57. The stock has a market cap of $3.14 billion, a PE ratio of 471.00, a P/E/G ratio of 1.36 and a beta of 2.22. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 0.72.

Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings data on Monday, November 5th. The energy producer reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.04). Oasis Petroleum had a negative net margin of 7.08% and a positive return on equity of 3.12%. The business had revenue of $546.50 million for the quarter, compared to analysts’ expectations of $455.65 million. The firm’s revenue was up 79.4% on a year-over-year basis. On average, sell-side analysts forecast that Oasis Petroleum will post 0.47 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of OAS. Cornerstone Wealth Management LLC acquired a new stake in Oasis Petroleum during the 2nd quarter worth approximately $734,000. Oakbrook Investments LLC acquired a new stake in Oasis Petroleum during the 2nd quarter worth approximately $131,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Oasis Petroleum during the 3rd quarter worth approximately $157,000. CIBC Asset Management Inc acquired a new stake in Oasis Petroleum during the 2nd quarter worth approximately $150,000. Finally, World Asset Management Inc acquired a new stake in Oasis Petroleum during the 2nd quarter worth approximately $171,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

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 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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Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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