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Friday, October 30, 2020

Oasis Petroleum Inc. (NASDAQ:OAS) is Holding Steady

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Oasis Petroleum Inc. (OAS) shares are trading at higher $0.38 and the avg recommendation for the stock is Hold.

To add more color to this target, the company’s high over the last year is $3.87 and the low is $0.24. Over the last 52 weeks, OAS is down -89.31% while the S&P 500 is up 8.70%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, OAS reported a profit of $-11.22 million. Oasis Petroleum Inc. also saw revenues decrease to $166.35 million. In addition, OAS has free cash flow of -$210.39 million as of 06-2020. The company’s EBITDA came in at $32.47 million which compares well with its peers.

OAS Return on Equity (ROE) is -301.80%, and its Return on Assets is -86.30%. All told, it is clear that, OAS needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. OAS has a short ratio of 3.59 and outstanding shares of 317.63M.

Company Outlook

OAS has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 30.65 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -14.08. Oasis Petroleum Inc. OAS also noted assets of $2.61 billion at the end of the last quarter. Investors should also keep an eye on sector updates as OAS has historically followed its peers on positive news.

All told, Oasis Petroleum Inc. OAS has strung together solid data and demonstrated underlying fundamentals. At its current valuation, OAS represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Oasis Petroleum Inc. OAS is now commanding a market cap of 134.01M and a float of 295.02M. OAS is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of OAS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in OAS, either long or short, and we have not been compensated for this article.

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