Oasis Petroleum Inc. (NYSE:OAS) Expected to Post Quarterly Sales of $488.45 Million

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Wall Street analysts forecast that Oasis Petroleum Inc. (NYSE:OAS) will report $488.45 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Oasis Petroleum’s earnings, with the highest sales estimate coming in at $623.00 million and the lowest estimate coming in at $382.00 million. Oasis Petroleum posted sales of $501.34 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.6%. The business is scheduled to announce its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Oasis Petroleum will report full year sales of $1.98 billion for the current fiscal year, with estimates ranging from $1.57 billion to $2.42 billion. For the next financial year, analysts expect that the business will post sales of $2.06 billion, with estimates ranging from $1.60 billion to $2.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Oasis Petroleum.

Oasis Petroleum (NYSE:OAS) last released its earnings results on Tuesday, May 7th. The energy producer reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.06). Oasis Petroleum had a negative net margin of 6.78% and a positive return on equity of 1.14%. The company had revenue of $575.73 million for the quarter, compared to analysts’ expectations of $421.65 million. During the same quarter last year, the firm posted $0.10 earnings per share. Oasis Petroleum’s revenue for the quarter was up 21.5% on a year-over-year basis.

A number of analysts recently issued reports on OAS shares. ValuEngine upgraded Oasis Petroleum from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 28th. Williams Capital reissued a “buy” rating and issued a $9.00 target price on shares of Oasis Petroleum in a research report on Wednesday, May 8th. Capital One Financial raised Oasis Petroleum from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, March 20th. Citigroup lowered their target price on shares of Oasis Petroleum from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 12th. Finally, Ifs Securities lowered shares of Oasis Petroleum from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $8.00 to $7.00 in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.63.

In related news, VP Michael H. Lou sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $6.04, for a total transaction of $241,600.00. Following the completion of the sale, the vice president now directly owns 536,017 shares in the company, valued at $3,237,542.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of OAS. Oslo Asset Management AS boosted its holdings in shares of Oasis Petroleum by 111.3% during the fourth quarter. Oslo Asset Management AS now owns 6,383,980 shares of the energy producer’s stock worth $35,303,000 after purchasing an additional 3,363,280 shares during the period. Norges Bank acquired a new stake in shares of Oasis Petroleum during the fourth quarter worth approximately $18,431,000. Victory Capital Management Inc. boosted its holdings in shares of Oasis Petroleum by 58.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,902,358 shares of the energy producer’s stock worth $21,580,000 after purchasing an additional 1,434,956 shares during the period. Dimensional Fund Advisors LP lifted its stake in Oasis Petroleum by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 22,828,068 shares of the energy producer’s stock valued at $137,882,000 after acquiring an additional 1,304,980 shares during the last quarter. Finally, Precocity Capital LP raised its position in shares of Oasis Petroleum by 68.3% in the fourth quarter. Precocity Capital LP now owns 2,525,000 shares of the energy producer’s stock valued at $13,963,000 after purchasing an additional 1,025,000 shares during the period. Institutional investors and hedge funds own 99.14% of the company’s stock.

Shares of OAS stock traded down $0.05 during trading hours on Friday, hitting $5.04. The stock had a trading volume of 2,240,448 shares, compared to its average volume of 10,466,156. The company has a current ratio of 0.78, a quick ratio of 0.73 and a debt-to-equity ratio of 0.74. Oasis Petroleum has a one year low of $4.74 and a one year high of $14.57. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 2.01 and a beta of 2.07.

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 the Texas region of the Delaware Basin, respectively. As of December 31, 2018, the company had 413,552 net leasehold acres in the Williston Basin; and 23,366 net leasehold acres in the Delaware Basin, as well as approximately 320.5 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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