Brokerages Anticipate Oasis Petroleum Inc. (OAS) to Post $0.07 Earnings Per Share

Equities research analysts expect that Oasis Petroleum Inc. (NYSE:OAS) will report earnings of $0.07 per share for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Oasis Petroleum’s earnings, with estimates ranging from ($0.01) to $0.14. Oasis Petroleum posted earnings of $0.10 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 30%. The company is scheduled to announce its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Oasis Petroleum will report full year earnings of $0.24 per share for the current financial year, with EPS estimates ranging from ($0.05) to $0.41. For the next fiscal year, analysts anticipate that the business will post earnings of $0.47 per share, with EPS estimates ranging from $0.00 to $1.81. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Oasis Petroleum.

Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Tuesday, May 7th. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The business had revenue of $575.73 million for the quarter, compared to the consensus estimate of $421.65 million. Oasis Petroleum had a negative net margin of 6.78% and a positive return on equity of 1.14%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share.

A number of brokerages have recently issued reports on OAS. Williams Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of Oasis Petroleum in a report on Wednesday, May 8th. Zacks Investment Research raised Oasis Petroleum from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Capital One Financial raised Oasis Petroleum from an “underweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. ValuEngine downgraded Oasis Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, May 3rd. Finally, Raymond James set a $12.00 price target on Oasis Petroleum and gave the company a “buy” rating in a report on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $12.88.

Shares of NYSE:OAS traded up $0.33 during midday trading on Thursday, reaching $5.81. 8,883,999 shares of the company’s stock traded hands, compared to its average volume of 10,288,039. The company has a market cap of $1.87 billion, a P/E ratio of 22.35, a PEG ratio of 1.46 and a beta of 2.11. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.78 and a quick ratio of 0.73. Oasis Petroleum has a one year low of $4.74 and a one year high of $14.57.

In related news, VP Michael H. Lou sold 40,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was 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 owns 536,017 shares in the company, valued at $3,237,542.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of OAS. Coastal Investment Advisors Inc. purchased a new stake in Oasis Petroleum in the first quarter worth about $27,000. PNC Financial Services Group Inc. increased its position in Oasis Petroleum by 36.6% in the fourth 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. purchased a new stake in Oasis Petroleum in the fourth quarter worth about $66,000. Dorsey & Whitney Trust CO LLC purchased a new stake in Oasis Petroleum in the fourth quarter worth about $81,000. Finally, CWM Advisors LLC purchased a new stake in Oasis Petroleum in the fourth quarter worth about $89,000. Institutional investors own 98.95% of the company’s stock.

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 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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