An issue of Oasis Petroleum Inc. (NYSE:OAS) debt rose 2.8% against its face value during trading on Thursday following insider selling activity. The high-yield debt issue has a 6.875% coupon and will mature on March 15, 2022. The bonds in the issue are now trading at $96.75 and were trading at $94.00 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price. Specifically, Chairman Thomas B. Nusz sold 200,000 shares of Oasis Petroleum stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $8.92, for a total value of $1,784,000.00. Following the completion of the transaction, the chairman now owns 1,590,772 shares of the company’s stock, valued at $14,189,686.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Taylor L. Reid sold 25,000 shares of Oasis Petroleum stock in a transaction on Monday, September 26th. The stock was sold at an average price of $9.42, for a total transaction of $235,500.00. Following the completion of the transaction, the chief operating officer now directly owns 1,199,341 shares of the company’s stock, valued at approximately $11,297,792.22. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on OAS shares. Citigroup Inc. upgraded Oasis Petroleum from a “neutral” rating to a “buy” rating and raised their target price for the company from $12.00 to $13.00 in a research note on Thursday, June 2nd. Vetr upgraded Oasis Petroleum from a “hold” rating to a “buy” rating and set a $11.33 target price on the stock in a research note on Thursday, June 2nd. Cantor Fitzgerald reiterated a “hold” rating and issued a $9.00 target price on shares of Oasis Petroleum in a research note on Sunday, June 5th. Seaport Global Securities cut Oasis Petroleum from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Tuesday, June 7th. Finally, Simmons started coverage on Oasis Petroleum in a research note on Friday, June 10th. They issued a “neutral” rating and a $13.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.83.
The company’s 50-day moving average is $9.73 and its 200 day moving average is $9.12. The company’s market cap is $2.02 billion.
Oasis Petroleum (NYSE:OAS) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. Oasis Petroleum had a negative return on equity of 1.22% and a negative net margin of 17.91%. The business earned $179 million during the quarter, compared to analysts’ expectations of $184.47 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. Analysts forecast that Oasis Petroleum Inc. will post ($0.62) EPS for the current year.
A number of institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Oasis Petroleum during the fourth quarter worth about $10,013,000. Teachers Advisors Inc. boosted its stake in shares of Oasis Petroleum by 34.4% in the first quarter. Teachers Advisors Inc. now owns 294,246 shares of the company’s stock valued at $2,142,000 after buying an additional 75,283 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Oasis Petroleum by 175.7% in the first quarter. Prudential Financial Inc. now owns 1,212,183 shares of the company’s stock valued at $8,825,000 after buying an additional 772,460 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its stake in shares of Oasis Petroleum by 135.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 282,972 shares of the company’s stock valued at $2,060,000 after buying an additional 162,612 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Oasis Petroleum by 24.8% in the first quarter. BlackRock Fund Advisors now owns 4,775,460 shares of the company’s stock valued at $34,765,000 after buying an additional 949,589 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.
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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