Oasis Petroleum Inc. (OAS) Shares Gap Down to $8.40

Oasis Petroleum Inc. (NYSE:OAS) shares gapped down before the market opened on Monday . The stock had previously closed at $8.15, but opened at $8.40. Oasis Petroleum shares last traded at $8.45, with a volume of 2,320,419 shares changing hands.

A number of research analysts recently issued reports on the company. BidaskClub downgraded Oasis Petroleum from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Cowen and Company set a $14.00 price target on Oasis Petroleum and gave the company a “buy” rating in a report on Monday, July 10th. Mizuho restated a “hold” rating and set a $10.00 price target on shares of Oasis Petroleum in a report on Friday, September 29th. Citigroup Inc. reduced their price target on Oasis Petroleum from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. Finally, Seaport Global Securities downgraded Oasis Petroleum from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $7.00 in a report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Oasis Petroleum currently has a consensus rating of “Hold” and an average price target of $13.90.

The stock’s market cap is $1.98 billion. The firm has a 50-day moving average price of $8.12 and a 200-day moving average price of $9.51.

Oasis Petroleum (NYSE:OAS) last issued its earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The business had revenue of $254.10 million for the quarter, compared to analyst estimates of $255.41 million. Oasis Petroleum had a negative net margin of 5.16% and a negative return on equity of 2.43%. The company’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same period last year, the company posted ($0.11) earnings per share. Analysts expect that Oasis Petroleum Inc. will post ($0.16) earnings per share for the current fiscal year.

In other news, VP Nickolas J. Lorentzatos sold 10,985 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $8.77, for a total transaction of $96,338.45. Following the transaction, the vice president now directly owns 182,351 shares of the company’s stock, valued at $1,599,218.27. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Taylor L. Reid sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $7.82, for a total transaction of $391,000.00. Following the transaction, the insider now directly owns 1,175,727 shares in the company, valued at $9,194,185.14. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Several large investors have recently modified their holdings of OAS. Federated Investors Inc. PA purchased a new position in shares of Oasis Petroleum during the second quarter worth approximately $121,000. Teacher Retirement System of Texas increased its position in shares of Oasis Petroleum by 6.3% during the second quarter. Teacher Retirement System of Texas now owns 18,688 shares of the energy producer’s stock worth $150,000 after acquiring an additional 1,100 shares during the period. Advisory Services Network LLC increased its position in shares of Oasis Petroleum by 14.1% during the second quarter. Advisory Services Network LLC now owns 19,400 shares of the energy producer’s stock worth $156,000 after acquiring an additional 2,400 shares during the period. Bourgeon Capital Management LLC purchased a new position in shares of Oasis Petroleum during the second quarter worth approximately $161,000. Finally, Bellwether Investment Group LLC increased its position in shares of Oasis Petroleum by 7.7% during the second quarter. Bellwether Investment Group LLC now owns 20,566 shares of the energy producer’s stock worth $166,000 after acquiring an additional 1,463 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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Oasis Petroleum Company Profile

Oasis Petroleum Inc is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its segments include Exploration and Production, Well Services, and Midstream Services.

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