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Downgrade Alert for Oasis Petroleum (OAS)

By David Diaz

Oasis Petroleum (NYSE:OAS) was downgraded from Buy to Hold at Cantor today. The stock closed yesterday at $9.89 on volume of 6.2 million shares, below average daily volume of 11.9 million.

Oasis Petroleum share prices have moved between a 52-week high of $18.15 and a 52-week low of $3.39 and closed yesterday at 192% above that low price at $9.89 per share. The 200-day and 50-day moving averages have moved 0.66% lower and 4.34% higher over the past week, respectively.

Oasis Petroleum has overhead space with shares priced $9.89, or 31.9% below the average consensus analyst price target of $14.53. The stock should discover initial support at its 200-day moving average (MA) of $8.89 and subsequent support at its 50-day MA of $7.07.

Oasis Petroleum Inc., is an independant exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources.

SmarTrend recommended that subscribers consider buying shares of Oasis Petroleum on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.90. Since that recommendation, shares of Oasis Petroleum have risen 61.7%. We continue to monitor OAS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades oasis petroleum

Ticker(s): OAS