Envestnet Asset Management Inc. lessened its position in shares of Oasis Petroleum Inc. (NYSE:OAS) by 12.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 69,999 shares of the energy producer’s stock after selling 9,785 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Oasis Petroleum were worth $398,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Oslo Asset Management AS lifted its stake in shares of Oasis Petroleum by 16.8% during the second quarter. Oslo Asset Management AS now owns 7,716,580 shares of the energy producer’s stock valued at $43,830,000 after acquiring an additional 1,108,000 shares during the period. Perella Weinberg Partners Capital Management LP lifted its stake in shares of Oasis Petroleum by 7.4% during the second quarter. Perella Weinberg Partners Capital Management LP now owns 4,196,180 shares of the energy producer’s stock valued at $23,834,000 after acquiring an additional 287,639 shares during the period. Geode Capital Management LLC lifted its stake in shares of Oasis Petroleum by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 2,814,612 shares of the energy producer’s stock valued at $15,564,000 after acquiring an additional 209,432 shares during the period. Ninepoint Partners LP lifted its stake in shares of Oasis Petroleum by 11.1% during the first quarter. Ninepoint Partners LP now owns 1,000,000 shares of the energy producer’s stock valued at $6,040,000 after acquiring an additional 100,000 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Oasis Petroleum by 10.7% during the second quarter. Fisher Asset Management LLC now owns 698,791 shares of the energy producer’s stock valued at $3,969,000 after acquiring an additional 67,709 shares during the period. 98.91% of the stock is currently owned by institutional investors and hedge funds.
In other Oasis Petroleum news, Director John E. Hagale purchased 30,000 shares of the stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $2.85 per share, for a total transaction of $85,500.00. Following the completion of the acquisition, the director now directly owns 120,480 shares of the company’s stock, valued at $343,368. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Taylor L. Reid purchased 45,060 shares of the stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $2.76 per share, with a total value of $124,365.60. Following the completion of the acquisition, the chief operating officer now directly owns 1,462,819 shares of the company’s stock, valued at $4,037,380.44. The disclosure for this purchase can be found here. Insiders acquired 105,060 shares of company stock valued at $292,666 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several equities analysts have recently issued reports on OAS shares. MKM Partners started coverage on Oasis Petroleum in a research note on Thursday, August 22nd. They set a “buy” rating and a $5.00 price target on the stock. Evercore ISI set a $9.00 price target on Oasis Petroleum and gave the company a “hold” rating in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their price objective on Oasis Petroleum from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Morgan Stanley dropped their price objective on Oasis Petroleum from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Williams Capital downgraded Oasis Petroleum from a “buy” rating to a “hold” rating and dropped their price objective for the company from $7.50 to $5.00 in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $7.72.
Shares of Oasis Petroleum stock opened at $3.60 on Friday. Oasis Petroleum Inc. has a 1 year low of $2.41 and a 1 year high of $14.57. The business has a 50-day moving average of $3.47 and a two-hundred day moving average of $5.07. The company has a market capitalization of $1.23 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 14.20 and a beta of 2.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.79.
Oasis Petroleum (NYSE:OAS) last announced its quarterly earnings results on Tuesday, August 6th. The energy producer reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Oasis Petroleum had a return on equity of 0.59% and a net margin of 9.43%. The company had revenue of $529.41 million during the quarter, compared to the consensus estimate of $406.63 million. During the same period in the prior year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities analysts anticipate that Oasis Petroleum Inc. will post 0.02 EPS for the current fiscal year.
Oasis Petroleum 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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