In a report released today, Gabriele Sorbara from Siebert Williams Shank & Co reiterated a Hold rating on Oasis Petroleum (OAS), with a price target of $3.00. The company’s shares closed last Monday at $1.77, close to its 52-week low of $1.75.
According to TipRanks.com, Sorbara is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -20.5% and a 23.7% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Extraction Oil & Gas, Matador Resources, and Concho Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oasis Petroleum with a $3.75 average price target, which is a 95.3% upside from current levels. In a report issued on February 14, Oppenheimer also assigned a Hold rating to the stock.
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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.