Wall Street analysts predict that Oasis Petroleum Inc. (NYSE:OAS) will announce sales of $432.52 million for the current quarter, according to Zacks. Ten analysts have made estimates for Oasis Petroleum’s earnings, with estimates ranging from $357.00 million to $501.00 million. Oasis Petroleum reported sales of $404.47 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.9%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, February 26th.
According to Zacks, analysts expect that Oasis Petroleum will report full year sales of $1.80 billion for the current fiscal year, with estimates ranging from $1.49 billion to $1.97 billion. For the next year, analysts forecast that the company will report sales of $1.83 billion, with estimates ranging from $1.55 billion to $2.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Oasis Petroleum.
Several research firms have issued reports on OAS. Zacks Investment Research raised shares of Oasis Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, October 24th. ValuEngine cut shares of Oasis Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Williams Capital set a $17.00 price target on shares of Oasis Petroleum and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Ifs Securities began coverage on shares of Oasis Petroleum in a research note on Monday, October 29th. They set an “outperform” rating on the stock. Finally, SunTrust Banks raised shares of Oasis Petroleum from a “sell” rating to a “hold” rating and raised their price target for the stock from $9.00 to $11.00 in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.30.
Shares of Oasis Petroleum stock traded up $0.22 during mid-day trading on Friday, hitting $6.35. 9,094,749 shares of the stock were exchanged, compared to its average volume of 9,677,877. Oasis Petroleum has a twelve month low of $4.74 and a twelve month high of $14.57. The stock has a market capitalization of $1.98 billion, a P/E ratio of 317.50, a P/E/G ratio of 1.30 and a beta of 2.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.59 and a quick ratio of 0.55.
A number of hedge funds have recently made changes to their positions in OAS. Bank of New York Mellon Corp lifted its position in Oasis Petroleum by 33.5% during the second quarter. Bank of New York Mellon Corp now owns 4,422,534 shares of the energy producer’s stock valued at $57,362,000 after buying an additional 1,110,344 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in Oasis Petroleum by 96.9% during the third quarter. Cornerstone Wealth Management LLC now owns 18,268 shares of the energy producer’s stock valued at $2,167,000 after buying an additional 8,990 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in Oasis Petroleum during the third quarter valued at approximately $157,000. Moody Aldrich Partners LLC lifted its position in Oasis Petroleum by 17.5% during the third quarter. Moody Aldrich Partners LLC now owns 367,166 shares of the energy producer’s stock valued at $5,206,000 after buying an additional 54,555 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Oasis Petroleum during the third quarter valued at approximately $457,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.
Oasis Petroleum Company Profile
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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