Oasis Petroleum Inc. (OAS) Sees Significant Decline in Short Interest

Oasis Petroleum Inc. (NYSE:OAS) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 35,685,544 shares, a drop of 11.5% from the January 15th total of 40,326,309 shares. Based on an average daily volume of 9,494,806 shares, the short-interest ratio is presently 3.8 days. Currently, 13.1% of the shares of the company are short sold.

A number of research firms have commented on OAS. Morgan Stanley set a $10.00 price objective on Oasis Petroleum and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded Oasis Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Raymond James set a $12.00 price objective on Oasis Petroleum and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Citigroup lowered Oasis Petroleum from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $7.00 in a research note on Wednesday, January 23rd. Finally, Piper Jaffray Companies lowered Oasis Petroleum from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. Oasis Petroleum currently has an average rating of “Hold” and a consensus price target of $13.30.

Shares of OAS opened at $5.87 on Thursday. Oasis Petroleum has a 52-week low of $4.74 and a 52-week high of $14.57. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.55 and a current ratio of 0.59. The firm has a market capitalization of $1.89 billion, a PE ratio of 293.50, a price-to-earnings-growth ratio of 1.13 and a beta of 2.15.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Oasis Petroleum by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 2,814,612 shares of the energy producer’s stock valued at $15,564,000 after purchasing an additional 209,432 shares during the last quarter. Sapience Investments LLC increased its stake in shares of Oasis Petroleum by 67.8% in the 4th quarter. Sapience Investments LLC now owns 1,607,410 shares of the energy producer’s stock valued at $8,889,000 after purchasing an additional 649,690 shares during the last quarter. Neuburgh Advisers LLC increased its stake in shares of Oasis Petroleum by 21.6% in the 4th quarter. Neuburgh Advisers LLC now owns 31,584 shares of the energy producer’s stock valued at $175,000 after purchasing an additional 5,616 shares during the last quarter. Stifel Financial Corp bought a new position in shares of Oasis Petroleum in the 4th quarter valued at $102,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Oasis Petroleum by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,523,088 shares of the energy producer’s stock valued at $119,023,000 after purchasing an additional 1,012,789 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

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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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