Oasis Petroleum Inc. (OAS) Debt Trading 2.5% Higher

An issue of Oasis Petroleum Inc. (NYSE:OAS) bonds rose 2.5% as a percentage of their face value during trading on Thursday. The debt issue has a 6.875% coupon and is set to mature on March 15, 2022. The debt is now trading at $95.00 and was trading at $98.25 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

OAS has been the subject of several research reports. Credit Suisse Group reaffirmed a “neutral” rating and set a $19.00 price objective on shares of Oasis Petroleum in a research note on Friday, June 2nd. Royal Bank Of Canada set a $19.00 price objective on shares of Oasis Petroleum and gave the company a “buy” rating in a research note on Thursday, June 8th. Guggenheim raised shares of Oasis Petroleum from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, March 16th. Canaccord Genuity set a $15.00 price objective on shares of Oasis Petroleum and gave the company a “hold” rating in a research note on Monday, February 27th. Finally, BidaskClub raised shares of Oasis Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $15.47.

Shares of Oasis Petroleum Inc. (NYSE OAS) opened at 7.75 on Friday. Oasis Petroleum Inc. has a one year low of $6.56 and a one year high of $17.08. The stock has a 50 day moving average of $10.50 and a 200-day moving average of $13.21. The firm’s market capitalization is $1.84 billion.

Oasis Petroleum (NYSE:OAS) last posted its earnings results on Monday, May 8th. The energy producer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. Oasis Petroleum had a negative net margin of 18.00% and a negative return on equity of 2.88%. The business had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $252.72 million. During the same period in the previous year, the company posted ($0.18) earnings per share. The business’s revenue for the quarter was up 119.3% compared to the same quarter last year. On average, equities analysts anticipate that Oasis Petroleum Inc. will post ($0.08) earnings per share for the current fiscal year.

In other news, Chairman Thomas B. Nusz sold 187,236 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $9.50, for a total transaction of $1,778,742.00. Following the transaction, the chairman now directly owns 1,469,546 shares of the company’s stock, valued at $13,960,687. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Oasis Petroleum during the fourth quarter worth approximately $2,127,000. Comerica Bank boosted its position in Oasis Petroleum by 65.1% in the fourth quarter. Comerica Bank now owns 31,008 shares of the energy producer’s stock worth $458,000 after buying an additional 12,228 shares during the last quarter. TCW Group Inc. purchased a new position in Oasis Petroleum during the fourth quarter worth approximately $215,000. Marshall Wace LLP purchased a new position in Oasis Petroleum during the fourth quarter worth approximately $1,597,000. Finally, A.R.T. Advisors LLC boosted its position in Oasis Petroleum by 74.1% in the fourth quarter. A.R.T. Advisors LLC now owns 93,300 shares of the energy producer’s stock worth $1,412,000 after buying an additional 39,700 shares during the last quarter. 98.38% of the stock is currently owned by institutional investors and hedge funds.

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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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