Oasis Petroleum (NYSE:OAS) Receives a Downgrade
In recent note finalized on Tuesday, 15 December, UBS downgraded Oasis Petroleum (NYSE:OAS) shares to a “Neutral” rating from the previous “Buy”. UBS now has a $9.0 PT on the stock. This PT provides a possible upside, according to the firm, of 6.51% from current stock price of the stock.
From a total of 32 analysts covering Oasis Petroleum Inc. (NYSE:OAS) stock, 16 rate it a ”Buy”, 2 a “Sell”, and 16 a ”Hold”. This means that 47% of the ratings are positive. The highest target price is $24 while the lowest target price is $8. The mean of all analyst targets is $14.34 with a 56.09% above today’s ($8.86) stock price. Oasis Petroleum Inc. was the topic of 27 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. JP Morgan initiated shares on December 9 with “Neutral” rating. Topeka Capital Markets maintained shares with “Buy” rating and $18 target share price in a report from an October 7. UBS maintained OAS stock in a recent report from November 4 with “Buy” rating. BMO Capital Markets upgraded the rating on August 17. BMO Capital Markets has a “Outperform” rating and a $16 price target on shares. Finally, Credit Suisse initiated the stock with “Neutral” rating in a report issued on an October 28.
Approximately 5.31 million shares of stock traded hands. Oasis Petroleum Inc. (NYSE:OAS) has declined 53.06% since May 12, 2015 and is downtrending. It has underperformed by 49.38% the S&P500.
The overall sentiment of institutions has decreased to 0.88 in Q2 2015. Its down 0.26, from 1.14 in 2015Q2. The ratio fall, as 56 institutions have sold all the shares of Oasis Petroleum Inc. that they owned while 75 funds have taken shares off the table. 39 funds have purchased shares for the first time while 76 added to their positions. These institutions now hold 127.43 million shares or 10.15% less than the 141.82 million shares they owned in 2015Q2.
The Fund Caymus Capital Partners L.P. currently is holding shares equating to 5.35% of its total portfolio in Oasis Petroleum Inc. representing a total of 3.04 million shares. Another fund,Sound Energy Partners Inc., is holding a total of 290,500 shares equating to 5.1% of their holdings. Additionally, Alta Advisers Ltd has a 242,044 share stake in Oasis Petroleum Inc. which represents 3.43% of their total portfolio. The Fund, Cambrian Capital Limited Partnership, based out of California, has also built up a stake in the stock, which represents a total of 2.99% of their total portfolio. Finally Spo Advisory Corp, a fund which is based in the state of California reported a total holdings of 20.22 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of Oasis Petroleum Inc. have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $2.41 million . Nusz Thomas B sold 150,000 shares worth approximately $2.41M. Mcshane Michael bought 50,000 shares worth approximately $640,000.
Oasis Petroleum Inc. is an independent exploration and production company. The company has a market cap of $1.19 billion. The Firm 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. It has 6.32 P/E ratio. The Company’s core projects include Williston Basin, West Williston, East Nesson and Sanish.
According to Zacks Investment Research, “Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas resources. The Company is currently focused on exploiting resource potential from the Bakken and Three Forks formations, which are present across a substantial majority of its acreage. Oasis Petroleum Inc. is based in Houston, Texas.”