SunTrust Banks Weighs in on Oasis Petroleum Inc.’s FY2019 Earnings (OAS)

Oasis Petroleum Inc. (NYSE:OAS) – Equities researchers at SunTrust Banks dropped their FY2019 earnings estimates for shares of Oasis Petroleum in a note issued to investors on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the energy producer will post earnings per share of $0.80 for the year, down from their previous estimate of $0.82. SunTrust Banks has a “Buy” rating and a $17.00 price objective on the stock. SunTrust Banks also issued estimates for Oasis Petroleum’s FY2020 earnings at $0.80 EPS.

Oasis Petroleum (NYSE:OAS) last released its quarterly earnings results on Monday, May 8th. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02. Oasis Petroleum had a negative return on equity of 2.88% and a negative net margin of 18.00%. The business had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $252.72 million. During the same period in the previous year, the business posted ($0.18) earnings per share. The firm’s revenue for the quarter was up 119.3% compared to the same quarter last year.

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Several other brokerages also recently weighed in on OAS. BMO Capital Markets upgraded Oasis Petroleum from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $14.26 to $18.00 in a research report on Friday, March 31st. Stifel Nicolaus initiated coverage on Oasis Petroleum in a research report on Friday, April 7th. They issued a “hold” rating and a $13.00 target price for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $19.00 target price on shares of Oasis Petroleum in a research report on Friday, March 31st. Seaport Global Securities upgraded Oasis Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Finally, UBS AG initiated coverage on Oasis Petroleum in a research report on Thursday, March 23rd. They issued a “neutral” rating and a $14.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Oasis Petroleum currently has a consensus rating of “Buy” and an average target price of $15.19.

Oasis Petroleum (OAS) opened at 7.9439 on Monday. Oasis Petroleum has a 12-month low of $6.56 and a 12-month high of $17.08. The company’s market capitalization is $1.89 billion. The company has a 50 day moving average price of $9.70 and a 200-day moving average price of $12.86. Oasis Petroleum also was the target of unusually large options trading on Friday. Investors acquired 7,966 call options on the stock. This represents an increase of 304% compared to the average daily volume of 1,974 call options.

In other Oasis Petroleum news, Chairman Thomas B. Nusz sold 187,236 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $9.50, for a total value of $1,778,742.00. Following the sale, the chairman now directly owns 1,469,546 shares in the company, valued at $13,960,687. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its position in Oasis Petroleum by 14.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,819 shares of the energy producer’s stock valued at $164,000 after buying an additional 1,526 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Oasis Petroleum during the fourth quarter valued at about $227,000. Stephens Inc. AR raised its position in Oasis Petroleum by 13.8% in the first quarter. Stephens Inc. AR now owns 16,050 shares of the energy producer’s stock valued at $229,000 after buying an additional 1,950 shares during the last quarter. Advisory Services Network LLC bought a new position in Oasis Petroleum during the first quarter valued at about $242,000. Finally, Atria Investments LLC raised its position in Oasis Petroleum by 4.3% in the first quarter. Atria Investments LLC now owns 17,075 shares of the energy producer’s stock valued at $243,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Oasis Petroleum Company Profile

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. Its segments include Exploration and Production, Well Services, and Midstream Services.

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

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