Oasis Midstream Partners (NYSE:OMP) Earns Overweight Rating from Analysts at Piper Jaffray Companies

Stock analysts at Piper Jaffray Companies began coverage on shares of Oasis Midstream Partners (NYSE:OMP) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $28.00 price target on the stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 28.15% from the company’s previous close. Piper Jaffray Companies also issued estimates for Oasis Midstream Partners’ Q2 2019 earnings at $0.60 EPS, Q3 2019 earnings at $0.67 EPS, Q4 2019 earnings at $0.78 EPS, FY2019 earnings at $2.68 EPS, Q1 2020 earnings at $0.79 EPS, Q2 2020 earnings at $0.77 EPS, Q3 2020 earnings at $0.77 EPS, Q4 2020 earnings at $0.75 EPS, FY2020 earnings at $3.08 EPS and FY2021 earnings at $2.76 EPS.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $26.56.

Shares of NYSE:OMP opened at $21.85 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $738.32 million, a price-to-earnings ratio of 12.01, a PEG ratio of 0.61 and a beta of 1.48. Oasis Midstream Partners has a twelve month low of $14.98 and a twelve month high of $24.21. The stock’s 50-day simple moving average is $20.60.

Oasis Midstream Partners (NYSE:OMP) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $91.65 million during the quarter, compared to analyst estimates of $85.60 million. Oasis Midstream Partners had a net margin of 20.42% and a return on equity of 10.46%. Sell-side analysts expect that Oasis Midstream Partners will post 3.26 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Oasis Midstream Partners by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 442,797 shares of the company’s stock valued at $8,998,000 after purchasing an additional 1,755 shares during the period. Deutsche Bank AG increased its holdings in Oasis Midstream Partners by 39.7% during the 4th quarter. Deutsche Bank AG now owns 161,019 shares of the company’s stock worth $2,574,000 after purchasing an additional 45,719 shares during the period. Globeflex Capital L P purchased a new stake in Oasis Midstream Partners during the 1st quarter worth about $1,525,000. Acadian Asset Management LLC boosted its position in shares of Oasis Midstream Partners by 1.3% during the 1st quarter. Acadian Asset Management LLC now owns 70,994 shares of the company’s stock worth $1,443,000 after acquiring an additional 907 shares in the last quarter. Finally, Albert D Mason Inc. boosted its position in shares of Oasis Midstream Partners by 5.6% during the 1st quarter. Albert D Mason Inc. now owns 61,645 shares of the company’s stock worth $1,253,000 after acquiring an additional 3,260 shares in the last quarter. Institutional investors own 19.94% of the company’s stock.

About Oasis Midstream Partners

Oasis Midstream Partners LP provides crude oil, natural gas, and water-related midstream services in North America. It offers natural gas gathering, compression, processing, and gas lift services; crude oil gathering, stabilization, blending, and storage services; produced and flowback water gathering and disposal services; freshwater supply and distribution services; and crude oil transportation services from the Wild Basin operating area to Johnson's Corner.

Further Reading: Preferred Stock

Analyst Recommendations for Oasis Midstream Partners (NYSE:OMP)

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