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Piper Jaffray Believes Oasis Petroleum Inc (OAS) Still Has Room to Grow


In a report released today, David Kistler from Piper Jaffray maintained a Buy rating on Oasis Petroleum Inc (NYSE: OAS). The company’s shares opened today at $13.77, close to its 52-week high of $14.19.

According to TipRanks.com, Kistler is a 4-star analyst with an average return of 10.3% and a 63.0% success rate. Kistler covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Whiting Petroleum Corp, and Continental Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oasis Petroleum Inc with a $14.50 average price target, a 5.3% upside from current levels. In a report issued on September 26, Morgan Stanley also maintained a Buy rating on the stock with a $18 price target.

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Based on Oasis Petroleum Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $320 million. In comparison, last year the company had a net profit of $16.57 million.

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Oasis Petroleum, Inc. engages in the acquisition, development, and exploration of onshore, unconventional oil and natural gas resources. It operates through the following business segments: Exploration and Production, Midstream Services, and Well Services. The Exploration and Production segment refers to the sale of oil, and natural gas production.