California Public Employees Retirement System cut its holdings in Oasis Petroleum Inc. (NYSE:OAS) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,978 shares of the energy producer’s stock after selling 11,298 shares during the period. California Public Employees Retirement System owned about 0.13% of Oasis Petroleum worth $2,621,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in OAS. Oslo Asset Management AS raised its position in shares of Oasis Petroleum by 111.3% in the fourth quarter. Oslo Asset Management AS now owns 6,383,980 shares of the energy producer’s stock worth $35,303,000 after buying an additional 3,363,280 shares in the last quarter. Norges Bank purchased a new position in Oasis Petroleum in the 4th quarter worth approximately $18,431,000. Victory Capital Management Inc. raised its holdings in Oasis Petroleum by 58.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,902,358 shares of the energy producer’s stock worth $21,580,000 after acquiring an additional 1,434,956 shares during the last quarter. Precocity Capital LP raised its stake in Oasis Petroleum by 68.3% during the 4th quarter. Precocity Capital LP now owns 2,525,000 shares of the energy producer’s stock valued at $13,963,000 after buying an additional 1,025,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Oasis Petroleum by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 21,523,088 shares of the energy producer’s stock valued at $119,023,000 after acquiring an additional 1,012,789 shares during the period. 91.86% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently issued reports on OAS shares. Jefferies Financial Group decreased their target price on shares of Oasis Petroleum from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Morgan Stanley lowered shares of Oasis Petroleum from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $7.00 to $6.00 in a research report on Monday, June 24th. ValuEngine raised shares of Oasis Petroleum from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 19th. Capital One Financial upgraded shares of Oasis Petroleum from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, March 20th. Finally, Williams Capital reiterated a “buy” rating and issued a $9.00 price target on shares of Oasis Petroleum in a report on Sunday, April 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.38.
Oasis Petroleum (NYSE:OAS) last released its quarterly 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 firm had revenue of $575.73 million for the quarter, compared to analyst estimates of $421.65 million. Oasis Petroleum had a positive return on equity of 1.14% and a negative net margin of 6.78%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. As a group, equities analysts forecast that Oasis Petroleum Inc. will post 0.2 EPS for the current fiscal year.
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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