Oasis Petroleum (OAS) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $-0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.15. The company posted revenue of $179.00 million in the period, compared to analysts expectations of $197.16 million. The company’s revenue was down -22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.
Many Wall Street Analysts have commented on Oasis Petroleum. Oasis Petroleum was Upgraded by Susquehanna to ” Positive” on Aug 1, 2016. Ladenburg Thalmann Upgraded Oasis Petroleum on Jul 13, 2016 to ” Buy”, Price Target of the shares are set at $12.Piper Jaffray Initiated Oasis Petroleum on Jun 10, 2016 to “Neutral”, Price Target of the shares are set at $13.
Oasis Petroleum closed down -0.11 points or -1.59% at $6.8 with 1,29,23,262 shares getting traded on Tusday. Post opening the session at $7.05, the shares hit an intraday low of $6.56 and an intraday high of $7.14 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 27, 2016, Taylor L Reid (President and COO) sold 50,000 shares at $10.15 per share price. According to the SEC, on Dec 28, 2015, Thomas B Nusz (Chairman and CEO) sold 200,000 shares at $7.76 per share price. On Mar 6, 2015, Michael Mcshane (director) purchased 50,000 shares at $12.80 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Companys core projects include Williston Basin West Williston East Nesson and Sanish. The Williston basin produces oil and natural gas from various producing horizons including the Bakken Three Forks Madison and Red River formations. The Company controls 357584 net acres in the West Williston project area. The Company controls 147919 net acres in the East Nesson project area. The Company also operates an oil and gas marketing business through Oasis Petroleum Marketing LLC a well services business through Oasis Well Services LLC and a midstream services business through Oasis Midstream Services LLC.