Brokerages Anticipate Oasis Petroleum Inc. (OAS) Will Announce Quarterly Sales of $257.93 Million
Analysts expect that Oasis Petroleum Inc. (NYSE:OAS) will announce $257.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Oasis Petroleum’s earnings. The highest sales estimate is $275.99 million and the lowest is $231.84 million. Oasis Petroleum reported sales of $177.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 45.5%. The company is expected to report its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Oasis Petroleum will report full-year sales of $257.93 million for the current fiscal year, with estimates ranging from $963.66 million to $1.13 billion. For the next year, analysts anticipate that the company will post sales of $1.24 billion per share, with estimates ranging from $951.90 million to $1.47 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Oasis Petroleum.
Oasis Petroleum (NYSE:OAS) last released its earnings results on Wednesday, August 2nd. The energy producer reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $254.10 million for the quarter, compared to analyst estimates of $255.41 million. Oasis Petroleum had a negative return on equity of 2.43% and a negative net margin of 5.16%. The company’s revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) EPS.
A number of brokerages have recently weighed in on OAS. Jefferies Group LLC reiterated a “buy” rating and set a $13.00 target price on shares of Oasis Petroleum in a research note on Tuesday. Mizuho reiterated a “hold” rating and set a $10.00 target price on shares of Oasis Petroleum in a research note on Friday, September 29th. Stifel Nicolaus reiterated a “hold” rating and set a $10.00 target price (down previously from $10.50) on shares of Oasis Petroleum in a research note on Monday, September 25th. Morgan Stanley reiterated an “equal weight” rating on shares of Oasis Petroleum in a research note on Saturday, September 16th. Finally, Royal Bank Of Canada set a $14.00 target price on Oasis Petroleum and gave the stock a “buy” rating in a research note on Thursday, August 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. Oasis Petroleum currently has a consensus rating of “Hold” and an average target price of $13.90.
In related news, insider Taylor L. Reid sold 50,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $7.82, for a total transaction of $391,000.00. Following the sale, the insider now owns 1,175,727 shares of the company’s stock, valued at approximately $9,194,185.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Nickolas J. Lorentzatos sold 10,985 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $8.77, for a total value of $96,338.45. Following the sale, the vice president now directly owns 182,351 shares in the company, valued at approximately $1,599,218.27. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OAS. Federated Investors Inc. PA acquired a new stake in shares of Oasis Petroleum during the 2nd quarter valued at $121,000. Teacher Retirement System of Texas boosted its holdings in shares of Oasis Petroleum by 6.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 18,688 shares of the energy producer’s stock valued at $150,000 after acquiring an additional 1,100 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Oasis Petroleum by 14.1% during the 2nd quarter. Advisory Services Network LLC now owns 19,400 shares of the energy producer’s stock valued at $156,000 after acquiring an additional 2,400 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Oasis Petroleum during the 2nd quarter valued at $161,000. Finally, Bellwether Investment Group LLC boosted its holdings in shares of Oasis Petroleum by 7.7% during the 2nd quarter. Bellwether Investment Group LLC now owns 20,566 shares of the energy producer’s stock valued at $166,000 after acquiring an additional 1,463 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors.
Oasis Petroleum (NYSE:OAS) traded up 1.60% during mid-day trading on Monday, reaching $8.90. The company’s stock had a trading volume of 5,778,298 shares. Oasis Petroleum has a 52-week low of $6.69 and a 52-week high of $17.08. The stock’s market cap is $2.11 billion. The company has a 50 day moving average of $7.97 and a 200-day moving average of $9.64.
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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, Well Services, and Midstream Services.
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