Oasis Petroleum Inc. (OAS) Forecasted to Earn Q3 2018 Earnings of $0.08 Per Share

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Oasis Petroleum Inc. (NYSE:OAS) – Analysts at SunTrust Banks decreased their Q3 2018 EPS estimates for shares of Oasis Petroleum in a research note issued to investors on Wednesday, August 8th. SunTrust Banks analyst N. Dingmann now anticipates that the energy producer will post earnings per share of $0.08 for the quarter, down from their prior forecast of $0.09. SunTrust Banks has a “Sell” rating and a $12.00 price target on the stock. SunTrust Banks also issued estimates for Oasis Petroleum’s Q4 2018 earnings at $0.09 EPS, FY2018 earnings at $0.37 EPS, FY2019 earnings at $0.82 EPS and FY2020 earnings at $1.09 EPS.

Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Monday, August 6th. The energy producer reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The firm had revenue of $501.30 million for the quarter, compared to analyst estimates of $404.75 million. Oasis Petroleum had a negative net margin of 14.48% and a positive return on equity of 2.53%. The business’s revenue for the quarter was up 97.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Oasis Petroleum in a report on Wednesday, April 18th. They issued an “overweight” rating and a $16.00 price target on the stock. Morgan Stanley raised shares of Oasis Petroleum from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $12.52 to $19.00 in a report on Wednesday, May 23rd. Williams Capital set a $13.00 price target on shares of Oasis Petroleum and gave the stock a “buy” rating in a report on Monday, April 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $15.00 target price on shares of Oasis Petroleum in a report on Friday, July 13th. Finally, Stephens set a $15.00 target price on shares of Oasis Petroleum and gave the company a “buy” rating in a report on Tuesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.07.

Shares of Oasis Petroleum opened at $13.04 on Monday, Marketbeat.com reports. The firm has a market capitalization of $4.07 billion, a PE ratio of 652.00, a P/E/G ratio of 1.93 and a beta of 2.09. Oasis Petroleum has a one year low of $6.69 and a one year high of $13.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.59 and a current ratio of 0.51.

In other Oasis Petroleum news, VP Michael H. Lou sold 16,000 shares of the firm’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $12.27, for a total value of $196,320.00. Following the sale, the vice president now owns 434,959 shares of the company’s stock, valued at approximately $5,336,946.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Taylor L. Reid sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $12.22, for a total transaction of $366,600.00. Following the completion of the sale, the insider now directly owns 1,232,534 shares in the company, valued at approximately $15,061,565.48. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Liberty Mutual Group Asset Management Inc. bought a new stake in Oasis Petroleum in the 2nd quarter worth $688,000. Employees Retirement System of Texas grew its holdings in Oasis Petroleum by 298.9% in the 2nd quarter. Employees Retirement System of Texas now owns 367,000 shares of the energy producer’s stock worth $4,760,000 after acquiring an additional 275,000 shares during the last quarter. Neuburgh Advisers LLC bought a new stake in Oasis Petroleum in the 2nd quarter worth $241,000. Federated Investors Inc. PA bought a new stake in Oasis Petroleum in the 2nd quarter worth $7,013,000. Finally, Riverhead Capital Management LLC bought a new stake in Oasis Petroleum in the 2nd quarter worth $376,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Oasis Petroleum (NYSE:OAS)

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