MKM Partners assumed coverage on shares of Oasis Petroleum (NYSE:OAS) in a research note issued to investors on Thursday morning, The Fly reports. The firm issued a buy rating and a $5.00 target price on the energy producer’s stock.
A number of other equities analysts also recently weighed in on OAS. ValuEngine upgraded Oasis Petroleum from a strong sell rating to a sell rating in a research note on Tuesday, May 28th. Evercore ISI set a $9.00 target price on Oasis Petroleum and gave the stock a hold rating in a research note on Wednesday, August 7th. Royal Bank of Canada set a $8.00 price target on shares of Oasis Petroleum and gave the stock a buy rating in a report on Friday, August 9th. Raymond James cut shares of Oasis Petroleum from a strong-buy rating to an outperform rating and lowered their price target for the stock from $7.50 to $4.00 in a report on Thursday, August 8th. Finally, SunTrust Banks cut shares of Oasis Petroleum from a hold rating to a sell rating in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $8.74.
Shares of NYSE OAS traded down $0.20 during midday trading on Thursday, reaching $3.03. The company’s stock had a trading volume of 1,875,821 shares, compared to its average volume of 13,566,043. Oasis Petroleum has a 12-month low of $2.41 and a 12-month high of $14.57. The firm has a 50 day moving average price of $4.17 and a 200-day moving average price of $5.34. The stock has a market capitalization of $1.08 billion, a P/E ratio of 11.65, a PEG ratio of 3.77 and a beta of 2.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.79.
In other Oasis Petroleum news, COO Taylor L. Reid bought 45,060 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $2.76 per share, with a total value of $124,365.60. Following the acquisition, the chief operating officer now directly owns 1,462,819 shares of the company’s stock, valued at approximately $4,037,380.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John E. Hagale bought 30,000 shares of the stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $2.85 per share, for a total transaction of $85,500.00. Following the acquisition, the director now directly owns 120,480 shares in the company, valued at $343,368. The disclosure for this purchase can be found here. Insiders have acquired a total of 105,060 shares of company stock worth $292,666 in the last three months. Insiders own 1.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Arizona State Retirement System raised its holdings in Oasis Petroleum by 1.1% during the 1st quarter. Arizona State Retirement System now owns 194,095 shares of the energy producer’s stock valued at $1,172,000 after acquiring an additional 2,111 shares during the period. CWM Advisors LLC grew its position in shares of Oasis Petroleum by 8.3% during the 2nd quarter. CWM Advisors LLC now owns 27,820 shares of the energy producer’s stock valued at $158,000 after purchasing an additional 2,140 shares in the last quarter. Sippican Capital Advisors grew its position in shares of Oasis Petroleum by 12.9% during the 2nd quarter. Sippican Capital Advisors now owns 27,115 shares of the energy producer’s stock valued at $154,000 after purchasing an additional 3,100 shares in the last quarter. Piedmont Investment Advisors Inc. grew its position in shares of Oasis Petroleum by 28.5% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 15,252 shares of the energy producer’s stock valued at $92,000 after purchasing an additional 3,386 shares in the last quarter. Finally, Chilton Capital Management LLC grew its position in shares of Oasis Petroleum by 16.0% during the 2nd quarter. Chilton Capital Management LLC now owns 25,442 shares of the energy producer’s stock valued at $145,000 after purchasing an additional 3,500 shares in the last quarter. 92.79% of the stock is currently owned by institutional investors and hedge funds.
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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