Oasis Petroleum (OAS) Bonds Drop 1.8% During Trading

An issue of Oasis Petroleum Inc. (NYSE:OAS) debt fell 1.8% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 6.25% coupon and is set to mature on May 1, 2026. The bonds in the issue are now trading at $90.97 and were trading at $95.25 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.

OAS has been the topic of several research reports. Zacks Investment Research cut shares of Oasis Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. UBS Group raised shares of Oasis Petroleum from a “neutral” rating to a “positive” rating in a research report on Thursday, November 15th. Susquehanna Bancshares raised shares of Oasis Petroleum from a “neutral” rating to a “positive” rating and set a $13.00 price objective on the stock in a research report on Thursday, November 15th. TheStreet cut shares of Oasis Petroleum from a “c” rating to a “d+” rating in a research report on Monday, November 19th. Finally, Cowen initiated coverage on shares of Oasis Petroleum in a research report on Thursday, November 29th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. Oasis Petroleum presently has a consensus rating of “Hold” and an average target price of $13.26.

NYSE:OAS traded down $0.36 on Friday, hitting $5.07. 11,849,409 shares of the company’s stock were exchanged, compared to its average volume of 10,014,237. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.59 and a quick ratio of 0.55. Oasis Petroleum Inc. has a 52 week low of $4.74 and a 52 week high of $14.57. The stock has a market capitalization of $1.73 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.29 and a beta of 2.15.

Oasis Petroleum (NYSE:OAS) last issued its quarterly earnings results on Tuesday, February 26th. The energy producer reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). Oasis Petroleum had a positive return on equity of 3.12% and a negative net margin of 7.08%. The business had revenue of $599.80 million for the quarter, compared to the consensus estimate of $429.45 million. During the same period last year, the firm earned $0.12 earnings per share. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. On average, analysts anticipate that Oasis Petroleum Inc. will post 0.27 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in Oasis Petroleum by 36.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,953 shares of the energy producer’s stock worth $44,000 after buying an additional 2,129 shares in the last quarter. Piedmont Investment Advisors Inc. bought a new stake in Oasis Petroleum during the 4th quarter worth about $66,000. Dorsey & Whitney Trust CO LLC bought a new stake in Oasis Petroleum during the 4th quarter worth about $81,000. CWM Advisors LLC bought a new stake in Oasis Petroleum during the 4th quarter worth about $89,000. Finally, LPL Financial LLC lifted its position in Oasis Petroleum by 60.7% during the 4th quarter. LPL Financial LLC now owns 16,389 shares of the energy producer’s stock worth $91,000 after buying an additional 6,191 shares in the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

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About Oasis Petroleum (NYSE:OAS)

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.

See Also: P/E Growth (PEG)

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