Oasis Petroleum (OAS) : Traders are bullish on Oasis Petroleum (OAS) as it has outperformed the S&P 500 by a wide margin of 26.31% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 9.87%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 9.84% in the last 1 week, and is up 26.79% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Oasis Petroleum Inc. is up 5.99% in the last 3-month period. Year-to-Date the stock performance stands at 39.35%. The stock has recorded a 20-day Moving Average of 22.82% and the 50-Day Moving Average is 13.83%.
Oasis Petroleum (NYSE:OAS): The stock opened at $10.41 on Friday but the bulls could not build on the opening and the stock topped out at $10.41 for the day. The stock traded down to $10.13 during the day, due to lack of any buying support eventually closed down at $10.27 with a loss of -0.77% for the day. The stock had closed at $10.35 on the previous day. The total traded volume was 11,287,306 shares.
Also, JP Morgan maintains its view on Oasis Petroleum (NYSE:OAS) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. JP Morgan raises the price target from $12 per share to $13 per share on Oasis Petroleum . The rating by the firm was issued on August 15, 2016.
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 357,584 net acres in the West Williston project area. The Company controls 147,919 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.