Oasis Petroleum Inc. (OAS) Expected to Announce Earnings of $0.04 Per Share

Wall Street analysts expect Oasis Petroleum Inc. (NYSE:OAS) to report earnings of $0.04 per share for the current quarter, Zacks reports. Ten analysts have issued estimates for Oasis Petroleum’s earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at ($0.10). Oasis Petroleum posted earnings of $0.10 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 60%. The firm is scheduled to report its next quarterly earnings report on Monday, August 5th.

According to Zacks, analysts expect that Oasis Petroleum will report full-year earnings of $0.16 per share for the current fiscal year, with EPS estimates ranging from ($0.51) to $0.98. For the next fiscal year, analysts anticipate that the business will post earnings of $0.31 per share, with EPS estimates ranging from ($1.75) to $1.81. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Oasis Petroleum.

Oasis Petroleum (NYSE:OAS) last posted its earnings results on Tuesday, May 7th. The energy producer reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.06). The business had revenue of $575.73 million for the quarter, compared to analyst estimates of $421.65 million. Oasis Petroleum had a negative net margin of 6.78% and a positive return on equity of 1.14%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS.

Several research firms recently weighed in on OAS. Williams Capital restated a “buy” rating and set a $9.00 target price on shares of Oasis Petroleum in a report on Wednesday, May 8th. Citigroup reduced their target price on shares of Oasis Petroleum from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, March 12th. Ifs Securities lowered shares of Oasis Petroleum from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $8.00 to $7.00 in a report on Tuesday, April 23rd. ValuEngine upgraded shares of Oasis Petroleum from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 28th. Finally, Capital One Financial upgraded shares of Oasis Petroleum from an “underweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Oasis Petroleum currently has an average rating of “Hold” and a consensus price target of $12.63.

Shares of NYSE:OAS traded up $0.09 during midday trading on Friday, hitting $5.21. 7,743,987 shares of the company’s stock traded hands, compared to its average volume of 10,455,504. The company has a current ratio of 0.78, a quick ratio of 0.73 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.80 and a beta of 2.08. Oasis Petroleum has a twelve month low of $4.74 and a twelve month high of $14.57.

In other Oasis Petroleum news, VP Michael H. Lou sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $6.04, for a total value of $241,600.00. Following the transaction, the vice president now owns 536,017 shares in the company, valued at approximately $3,237,542.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Coastal Investment Advisors Inc. acquired a new stake in shares of Oasis Petroleum in the 1st quarter valued at about $27,000. PNC Financial Services Group Inc. raised its stake in shares of Oasis Petroleum by 36.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,953 shares of the energy producer’s stock valued at $44,000 after purchasing an additional 2,129 shares in the last quarter. Piedmont Investment Advisors Inc. acquired a new stake in shares of Oasis Petroleum in the 4th quarter valued at about $66,000. CWM Advisors LLC acquired a new stake in shares of Oasis Petroleum in the 4th quarter valued at about $89,000. Finally, LPL Financial LLC raised its stake in shares of Oasis Petroleum by 60.7% in the 4th quarter. LPL Financial LLC now owns 16,389 shares of the energy producer’s stock valued at $91,000 after purchasing an additional 6,191 shares in the last quarter. Institutional investors and hedge funds own 99.14% of the company’s stock.

Oasis Petroleum Company Profile

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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