Seaport Global Securities Weighs in on Oasis Petroleum Inc.’s FY2018 Earnings (NYSE:OAS)

Oasis Petroleum Inc. (NYSE:OAS) – Equities researchers at Seaport Global Securities lowered their FY2018 EPS estimates for Oasis Petroleum in a report issued on Tuesday, January 29th, Zacks Investment Research reports. Seaport Global Securities analyst J. Aschenbeck now forecasts that the energy producer will earn $0.32 per share for the year, down from their prior estimate of $0.38. Seaport Global Securities also issued estimates for Oasis Petroleum’s Q4 2018 earnings at $0.04 EPS, Q1 2020 earnings at $0.21 EPS, Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.25 EPS and FY2020 earnings at $0.87 EPS.

A number of other analysts also recently issued reports on OAS. Zacks Investment Research downgraded shares of Oasis Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. Cowen assumed coverage on shares of Oasis Petroleum in a report on Thursday, November 29th. They set a “market perform” rating for the company. ValuEngine downgraded shares of Oasis Petroleum from a “sell” rating to a “strong sell” rating in a report on Saturday, December 1st. Ifs Securities started coverage on shares of Oasis Petroleum in a report on Monday, October 29th. They set an “outperform” rating for the company. Finally, Raymond James set a $12.00 price objective on shares of Oasis Petroleum and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. 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’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.30.

OAS stock opened at $5.87 on Wednesday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 293.50, a price-to-earnings-growth ratio of 1.13 and a beta of 2.15. 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 has a 12 month low of $4.74 and a 12 month high of $14.57.

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

A number of hedge funds have recently modified their holdings of OAS. Russell Investments Group Ltd. boosted its position in Oasis Petroleum by 28.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 25,567 shares of the energy producer’s stock valued at $334,000 after buying an additional 5,719 shares during the period. Bank of New York Mellon Corp boosted its position in Oasis Petroleum by 33.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,422,534 shares of the energy producer’s stock valued at $57,362,000 after buying an additional 1,110,344 shares during the period. Northern Trust Corp boosted its position in Oasis Petroleum by 22.8% in the 2nd quarter. Northern Trust Corp now owns 5,238,348 shares of the energy producer’s stock valued at $67,941,000 after buying an additional 974,014 shares during the period. Barometer Capital Management Inc. boosted its position in Oasis Petroleum by 303.3% in the 3rd quarter. Barometer Capital Management Inc. now owns 402,900 shares of the energy producer’s stock valued at $5,713,000 after buying an additional 303,000 shares during the period. Finally, Guinness Asset Management Ltd boosted its position in Oasis Petroleum by 12.6% in the 3rd quarter. Guinness Asset Management Ltd now owns 440,600 shares of the energy producer’s stock valued at $6,248,000 after buying an additional 49,400 shares during the period. 98.50% of the stock is owned by institutional investors.

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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