Oasis Petroleum (OAS) has been under a strong bear grip, hence the stock is down -1.97% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 13.46% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 13.95% in the last 1 week, and is up 0.46% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Oasis Petroleum (NYSE:OAS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.19 and $8.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.66, notching a gain of 8.25% for the day. The total traded volume was 20,378,730 . The stock had closed at $8.00 on the previous day.
The stock has recorded a 20-day Moving Average of 7.27% and the 50-Day Moving Average is 6.46%.
Oasis Petroleum (OAS) : The consensus price target for Oasis Petroleum (OAS) is $11.74 for the short term with a standard deviation of $2.09. The most optimist securities analyst among the 23 who monitor the stock believes that the stock can reach $16, however, the pessimist price target for the company is $9.
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 Companys 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 357,584 net acres in the West Williston project area. The Company controls 147,919 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.