Oasis Petroleum (OAS) Lifted to Buy at Jefferies Financial Group

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Jefferies Financial Group upgraded shares of Oasis Petroleum (NYSE:OAS) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat reports. Jefferies Financial Group currently has $15.00 price objective on the energy producer’s stock. Jefferies Financial Group also issued estimates for Oasis Petroleum’s Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.19 EPS, FY2018 earnings at $0.56 EPS, Q1 2019 earnings at $0.33 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.23 EPS, Q4 2019 earnings at $0.26 EPS, FY2019 earnings at $1.10 EPS, Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.29 EPS and FY2020 earnings at $1.17 EPS.

OAS has been the topic of several other reports. Zacks Investment Research raised shares of Oasis Petroleum from a hold rating to a buy rating and set a $14.00 price target on the stock in a research note on Friday, October 12th. Williams Capital reissued a buy rating and issued a $18.00 price target on shares of Oasis Petroleum in a research note on Tuesday, June 26th. Morgan Stanley raised their price target on shares of Oasis Petroleum from $19.00 to $20.00 and gave the stock a buy rating in a research note on Thursday, August 16th. Royal Bank of Canada reissued a buy rating and issued a $15.00 price target on shares of Oasis Petroleum in a research note on Friday, July 13th. Finally, Piper Jaffray Companies reissued an overweight rating on shares of Oasis Petroleum in a research note on Friday, September 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $14.41.

NYSE:OAS opened at $12.16 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $4.51 billion, a PE ratio of 608.00, a price-to-earnings-growth ratio of 2.06 and a beta of 2.03. Oasis Petroleum has a twelve month low of $7.31 and a twelve month high of $14.57.

Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings results on Monday, August 6th. The energy producer reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The firm had revenue of $501.30 million for the quarter, compared to the consensus estimate of $404.75 million. Oasis Petroleum had a negative net margin of 14.48% and a positive return on equity of 2.53%. The company’s revenue for the quarter was up 97.3% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. On average, research analysts anticipate that Oasis Petroleum will post 0.46 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of OAS. Point72 Asia Hong Kong Ltd purchased a new position in Oasis Petroleum during the first quarter worth about $120,000. Oakbrook Investments LLC purchased a new position in Oasis Petroleum during the second quarter worth about $131,000. CIBC Asset Management Inc purchased a new position in Oasis Petroleum during the second quarter worth about $150,000. Element Capital Management LLC purchased a new position in Oasis Petroleum during the first quarter worth about $159,000. Finally, Russell Investments Group Ltd. raised its stake in Oasis Petroleum by 297.0% during the first quarter. Russell Investments Group Ltd. now owns 19,848 shares of the energy producer’s stock worth $161,000 after purchasing an additional 14,848 shares during the period. 97.19% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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