First Mercantile Trust Co. cut its stake in Oasis Petroleum Inc. (NYSE:OAS) by 38.4% during the second quarter, Holdings Channel reports. The firm owned 38,580 shares of the company’s stock after selling 24,000 shares during the period. First Mercantile Trust Co.’s holdings in Oasis Petroleum were worth $360,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. increased its stake in Oasis Petroleum by 22.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,448,756 shares of the company’s stock valued at $32,387,000 after buying an additional 819,288 shares during the period. Hermes Investment Management Ltd. increased its stake in Oasis Petroleum by 8.3% in the second quarter. Hermes Investment Management Ltd. now owns 3,718,752 shares of the company’s stock valued at $34,733,000 after buying an additional 285,100 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Oasis Petroleum during the first quarter valued at approximately $1,217,000. NorthRock Partners LLC bought a new stake in Oasis Petroleum during the first quarter valued at approximately $218,000. Finally, Canada Pension Plan Investment Board increased its stake in Oasis Petroleum by 783.1% in the first quarter. Canada Pension Plan Investment Board now owns 371,800 shares of the company’s stock valued at $2,707,000 after buying an additional 329,700 shares during the period. 89.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Oasis Petroleum Inc. (NYSE:OAS) opened at 10.45 on Thursday. The stock has a 50 day moving average price of $9.66 and a 200 day moving average price of $9.10. The company’s market capitalization is $1.89 billion. Oasis Petroleum Inc. has a 1-year low of $3.40 and a 1-year high of $14.15.
Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business earned $179 million during the quarter, compared to analyst estimates of $184.47 million. Oasis Petroleum had a negative return on equity of 1.22% and a negative net margin of 17.91%. The business’s revenue was down 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. On average, equities analysts anticipate that Oasis Petroleum Inc. will post ($0.62) EPS for the current fiscal year.
OAS has been the topic of several analyst reports. Vetr raised Oasis Petroleum from a “buy” rating to a “strong-buy” rating and set a $11.50 target price on the stock in a report on Tuesday, August 23rd. BMO Capital Markets downgraded Oasis Petroleum from an “outperform” rating to a “market perform” rating and set a $10.00 target price on the stock. in a report on Tuesday, August 23rd. They noted that the move was a valuation call. Nomura reissued a “hold” rating and issued a $17.00 target price on shares of Oasis Petroleum in a report on Monday. Williams Capital assumed coverage on Oasis Petroleum in a report on Monday, August 29th. They set a “buy” rating and a $13.00 price target on the stock. Finally, Deutsche Bank AG upped their price target on Oasis Petroleum from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, September 14th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.83.
In related news, Chairman Thomas B. Nusz sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $8.92, for a total value of $1,784,000.00. Following the transaction, the chairman now directly owns 1,590,772 shares in the company, valued at $14,189,686.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Taylor L. Reid sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $9.42, for a total value of $235,500.00. Following the completion of the transaction, the chief operating officer now owns 1,199,341 shares in the company, valued at $11,297,792.22. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
About Oasis Petroleum
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, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.
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