Oasis Petroleum (OAS) is Upgraded by Citigroup to Buy

Oasis Petroleum (OAS) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Jun 2, 2016.

Many Wall Street Analysts have commented on Oasis Petroleum. Company shares were Reiterated by Wunderlich on May 11, 2016 to “Hold”, Firm has raised the Price Target to $ 8 from a previous price target of $4 .Company shares were Reiterated by Topeka Capital Markets on May 10, 2016 to “Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $10 .Oasis Petroleum was Upgraded by Jefferies to ” Buy” on May 10, 2016.

On the company’s financial health, Oasis Petroleum reported $-0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $-0.17. The company had revenue of $130.30 million for the quarter, compared to analysts expectations of $179.63 million. The company’s revenue was down -27.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Oasis Petroleum opened for trading at $9.81 and hit $10.21 on the upside on Wednesday, eventually ending the session at $10.15, with a gain of 1.10% or 0.11 points. The heightened volatility saw the trading volume jump to 85,93,071 shares. Company has a market cap of $1,832 M.

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 Company’s 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.

Oasis Petroleum

Leave a Reply

Oasis Petroleum - Is it time to Sell?

Top Brokerage Firms are advising their investors on Oasis Petroleum. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.