Seaport Global Downgrades Oasis Petroleum to Neutral

Brokerage firm Seaport Global Downgrades its rating on Oasis Petroleum(NYSE:OAS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Seaport Global was issued on Jun 7, 2016.

In a different note, On Jun 3, 2016, Citigroup said it Maintains its rating on Oasis Petroleum. In the research note, the firm Raises the price-target to $12.00 per share. The shares have been rated ‘Buy’ by the firm. On May 17, 2016, Citigroup said it Maintains its rating on Oasis Petroleum. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 10, 2016, Jefferies said it Upgrades its rating on Oasis Petroleum. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Buy’ by the firm. On Apr 26, 2016, Cantor Fitzgerald said it Downgrades its rating on Oasis Petroleum. The shares have been rated ‘Hold’ by the firm. On Apr 7, 2016, Citigroup said it Maintains its rating on Oasis Petroleum. In the research note, the firm Raises the price-target to $7.50 per share. The shares have been rated ‘Neutral’ by the firm. On Mar 30, 2016, Seaport Global said it Upgrades its rating on Oasis Petroleum. The shares have been rated ‘Buy’ by the firm.

Oasis Petroleum (OAS) shares turned negative on Fridays trading session with the shares closing down -0.87 points or -8.08% at a volume of 86,84,896. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.55. The peak price level was also seen at $10.55 while the days lowest was $9.88. Finally the shares closed at $9.9. The 52-week high of the shares is $17.96 while the 52-week low is $3.395. According to the latest information available, the market cap of the company is $1,786 M.

Oasis Petroleum(OAS) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $130.28M. Analysts had an estimated revenue of $174.97M. Earnings per share were $-0.18. Analysts had estimated an EPS of $-0.17.

Several Insider Transactions has been reported to the SEC. On May 27, 2016, Taylor L Reid (President and COO) sold 50,000 shares at $10.15 per share price.Also, On Dec 28, 2015, Thomas B Nusz (Chairman and CEO) sold 200,000 shares at $7.76 per share price.On Mar 6, 2015, Michael Mcshane (director) purchased 50,000 shares at $12.80 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company’s core projects include Williston Basin West Williston East Nesson and Sanish. The Williston basin produces oil and natural gas from various producing horizons including the Bakken Three Forks Madison and Red River formations. The Company controls 357584 net acres in the West Williston project area. The Company controls 147919 net acres in the East Nesson project area. The Company also operates an oil and gas marketing business through Oasis Petroleum Marketing LLC a well services business through Oasis Well Services LLC and a midstream services business through Oasis Midstream Services LLC.

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