Oasis Petroleum Inc. (NYSE:OAS) Expected to Post Quarterly Sales of $486.43 Million

Wall Street brokerages expect Oasis Petroleum Inc. (NYSE:OAS) to report sales of $486.43 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Oasis Petroleum’s earnings, with estimates ranging from $391.00 million to $606.60 million. Oasis Petroleum posted sales of $546.45 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 11%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 4th.

On average, analysts expect that Oasis Petroleum will report full-year sales of $1.99 billion for the current year, with estimates ranging from $1.57 billion to $2.39 billion. For the next financial year, analysts expect that the company will post sales of $1.98 billion, with estimates ranging from $1.52 billion to $2.42 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Oasis Petroleum.

Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Tuesday, August 6th. The energy producer reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Oasis Petroleum had a return on equity of 0.59% and a net margin of 9.43%. The firm had revenue of $529.41 million for the quarter, compared to analysts’ expectations of $406.63 million. During the same period in the prior year, the business posted $0.10 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year.



A number of brokerages have weighed in on OAS. Royal Bank of Canada set a $8.00 price target on Oasis Petroleum and gave the company a “buy” rating in a research report on Friday, August 9th. Morgan Stanley lowered their price target on Oasis Petroleum from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Raymond James cut Oasis Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $7.50 to $4.00 in a research report on Thursday, August 8th. MKM Partners began coverage on Oasis Petroleum in a research report on Thursday. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Evercore ISI set a $9.00 price target on Oasis Petroleum and gave the company a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. Oasis Petroleum currently has an average rating of “Hold” and an average target price of $8.74.

In other Oasis Petroleum news, Director John E. Hagale acquired 30,000 shares of Oasis Petroleum stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $2.85 per share, with a total value of $85,500.00. Following the completion of the purchase, the director now owns 120,480 shares in the company, valued at $343,368. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Taylor L. Reid acquired 45,060 shares of Oasis Petroleum stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $2.76 per share, for a total transaction of $124,365.60. Following the purchase, the chief operating officer now owns 1,462,819 shares of the company’s stock, valued at approximately $4,037,380.44. The disclosure for this purchase can be found here. In the last three months, insiders acquired 105,060 shares of company stock worth $292,666. Insiders own 1.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of OAS. Nuveen Asset Management LLC acquired a new position in Oasis Petroleum in the second quarter worth $25,706,000. Point72 Asset Management L.P. acquired a new position in Oasis Petroleum in the second quarter worth $20,355,000. Norges Bank acquired a new position in shares of Oasis Petroleum during the fourth quarter valued at $18,431,000. UBS Group AG lifted its stake in shares of Oasis Petroleum by 410.0% during the second quarter. UBS Group AG now owns 3,427,982 shares of the energy producer’s stock valued at $19,471,000 after acquiring an additional 2,755,871 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Oasis Petroleum by 5.7% during the second quarter. Vanguard Group Inc. now owns 30,704,393 shares of the energy producer’s stock valued at $174,400,000 after acquiring an additional 1,661,458 shares during the period. 92.79% of the stock is currently owned by institutional investors.

NYSE:OAS traded down $0.22 during trading hours on Friday, reaching $3.01. The company had a trading volume of 11,458,769 shares, compared to its average volume of 13,710,810. The stock has a 50-day moving average of $4.13 and a two-hundred day moving average of $5.33. Oasis Petroleum has a one year low of $2.41 and a one year high of $14.57. The firm has a market capitalization of $1.08 billion, a PE ratio of 11.58, a PEG ratio of 3.76 and a beta of 2.04. The company has a quick ratio of 0.79, a current ratio of 0.84 and a debt-to-equity ratio of 0.75.

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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Earnings History and Estimates for Oasis Petroleum (NYSE:OAS)

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