Wells Fargo & Co Lowers Oasis Petroleum (NYSE:OAS) Price Target to $6.00

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Oasis Petroleum (NYSE:OAS) had its target price lowered by research analysts at Wells Fargo & Co from $7.00 to $6.00 in a report issued on Friday, September 20th, BenzingaRatingsTable reports. The brokerage presently has a “market perform” rating on the energy producer’s stock. Wells Fargo & Co‘s price objective suggests a potential upside of 85.19% from the stock’s current price.

OAS has been the topic of a number of other research reports. LADENBURG THALM/SH SH lowered shares of Oasis Petroleum from a “buy” rating to a “neutral” rating and cut their target price for the company from $7.00 to $5.00 in a research note on Monday, August 26th. Jefferies Financial Group cut their target price on shares of Oasis Petroleum from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Williams Capital lowered shares of Oasis Petroleum from a “buy” rating to a “hold” rating and cut their target price for the company from $7.50 to $5.00 in a research note on Wednesday, August 7th. Evercore ISI set a $9.00 target price on shares of Oasis Petroleum and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, Barclays assumed coverage on shares of Oasis Petroleum in a research report on Friday, August 30th. They set an “equal weight” rating and a $3.50 price target for the company. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.54.

Shares of NYSE OAS traded up $0.16 during trading on Friday, hitting $3.24. 9,891,322 shares of the company traded hands, compared to its average volume of 12,717,809. Oasis Petroleum has a fifty-two week low of $2.41 and a fifty-two week high of $12.85. The business’s fifty day moving average is $3.41 and its 200 day moving average is $4.75. The firm has a market capitalization of $955.96 million, a price-to-earnings ratio of 12.46, a P/E/G ratio of 21.78 and a beta of 2.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.79 and a current ratio of 0.84.

Oasis Petroleum (NYSE:OAS) last released its quarterly earnings data on Tuesday, August 6th. The energy producer reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company had revenue of $529.41 million during the quarter, compared to the consensus estimate of $406.63 million. Oasis Petroleum had a net margin of 9.43% and a return on equity of 0.59%. Oasis Petroleum’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. On average, analysts predict that Oasis Petroleum will post 0.01 EPS for the current year.

In related news, COO Taylor L. Reid bought 45,060 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $2.76 per share, with a total value of $124,365.60. Following the completion of the transaction, the chief operating officer now directly owns 1,462,819 shares of the company’s stock, valued at $4,037,380.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas B. Nusz bought 30,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $2.76 per share, for a total transaction of $82,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,830,332 shares of the company’s stock, valued at $5,051,716.32. The disclosure for this purchase can be found here. Insiders bought a total of 105,060 shares of company stock worth $292,666 in the last three months. Company insiders own 1.70% of the company’s stock.

Several large investors have recently made changes to their positions in OAS. Enterprise Bank & Trust Co acquired a new stake in shares of Oasis Petroleum during the third quarter valued at $35,000. Carroll Financial Associates Inc. bought a new stake in Oasis Petroleum during the 2nd quarter worth approximately $71,000. Magnus Financial Group LLC bought a new stake in Oasis Petroleum during the 2nd quarter worth approximately $82,000. Raymond James Trust N.A. bought a new position in Oasis Petroleum in the 2nd quarter valued at $89,000. Finally, Piedmont Investment Advisors Inc. boosted its position in Oasis Petroleum by 28.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 15,252 shares of the energy producer’s stock valued at $92,000 after buying an additional 3,386 shares during the last quarter. 98.83% of the stock is 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 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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Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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