In a report issued on March 16, Brad Heffern from RBC Capital maintained a Hold rating on Oasis Petroleum (OAS), with a price target of $0.50. The company’s shares closed last Monday at $0.42, close to its 52-week low of $0.25.
According to TipRanks.com, Heffern is a 1-star analyst with an average return of -4.9% and a 38.6% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Continental Resources, Par Pacific Holdings, and Extraction Oil & Gas.
Currently, the analyst consensus on Oasis Petroleum is a Moderate Sell with an average price target of $1.58, a 238.0% upside from current levels. In a report issued on March 9, Piper Sandler also maintained a Hold rating on the stock with a $1.00 price target.
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Based on Oasis Petroleum’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $76.41 million. In comparison, last year the company had a net profit of $222 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.
