Oasis Petroleum (OAS) Given a $9.00 Price Target by JPMorgan Chase & Co. Analysts

JPMorgan Chase & Co. set a $9.00 price objective on Oasis Petroleum (NYSE:OAS) in a report published on Friday. The firm currently has a buy rating on the energy producer’s stock.

OAS has been the subject of several other reports. TheStreet lowered Oasis Petroleum from a c rating to a d+ rating in a report on Monday, November 19th. Zacks Investment Research upgraded Oasis Petroleum from a hold rating to a buy rating and set a $14.00 price target for the company in a report on Friday, October 12th. Morgan Stanley lifted their price target on Oasis Petroleum from $19.00 to $20.00 and gave the company a buy rating in a report on Thursday, August 16th. UBS Group upgraded Oasis Petroleum from a neutral rating to a positive rating in a report on Thursday, November 15th. Finally, Piper Jaffray Companies reiterated an overweight rating on shares of Oasis Petroleum in a report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $13.93.

Shares of Oasis Petroleum stock traded up $0.03 during trading on Friday, hitting $6.89. 12,411,226 shares of the stock traded hands, compared to its average volume of 9,775,606. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 344.50, a P/E/G ratio of 1.13 and a beta of 2.22. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.59 and a quick ratio of 0.55. Oasis Petroleum has a twelve month low of $6.45 and a twelve month high of $14.57.

Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Monday, November 5th. The energy producer reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.04). The firm had revenue of $546.50 million for the quarter, compared to analyst estimates of $455.65 million. Oasis Petroleum had a negative net margin of 7.08% and a positive return on equity of 3.12%. The company’s revenue for the quarter was up 79.4% on a year-over-year basis. As a group, equities research analysts predict that Oasis Petroleum will post 0.41 earnings per share for the current year.

In related news, insider Taylor L. Reid sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $8.04, for a total value of $241,200.00. Following the completion of the sale, the insider now directly owns 1,216,576 shares in the company, valued at approximately $9,781,271.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Investors Inc. PA acquired a new stake in Oasis Petroleum in the 2nd quarter worth approximately $7,013,000. Canada Pension Plan Investment Board increased its position in Oasis Petroleum by 64.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 269,842 shares of the energy producer’s stock worth $3,500,000 after buying an additional 105,400 shares during the period. Strs Ohio bought a new position in Oasis Petroleum in the 2nd quarter worth approximately $334,000. Renaissance Technologies LLC increased its position in Oasis Petroleum by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,777,400 shares of the energy producer’s stock worth $23,053,000 after buying an additional 305,600 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Oasis Petroleum in the 2nd quarter worth approximately $933,000.

About Oasis Petroleum

Oasis Petroleum Inc, an independent exploration and production company, focuses on the acquisition and development of onshore unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin, and Permian Basin. As of December 31, 2017, the company had 502,660 net leasehold acres in the Williston Basin; and approximately 312.2 million barrels of oil equivalent of estimated net proved reserves.

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Analyst Recommendations for Oasis Petroleum (NYSE:OAS)

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