Why Oasis Petroleum Inc. (OAS) Is Getting Crushed -2.64% Today

Oasis Petroleum Inc. (NASDAQ:OAS) is among the top losers of the stock market today, sinking -2.64% or (-0.01 points) to $0.36 from its previous close of $0.37. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 7711942 contracts so far this session. OAS shares had a relatively better volume day versus average trading capacity of 15.39 million shares, but with a 0.29 billion float and a 5.83% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OAS stock indicates that the average analyst price target is $8.65 per share. This means the stock has a potential increase of 2302.78% from where the OAS share price has been trading recently.

During the recent trading session for Oasis Petroleum Inc. (NASDAQ:OAS), the company witnessed their stock drop by $-0.084 over a week and tumble down $-1.124 from the price 20 days ago. When compared to their established 52-week high of $7.15, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/23/19. The recent low of $0.25 stood for a -94.98% since 09/03/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.94 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Oasis Petroleum Inc., the two-week RSI stands at 31.32. This figure suggests that OAS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current OAS readings is similarly very revealing as it has a stochastic reading of 12.49% at this stage. This figure means that OAS share price today is being overbought.

Technical chart claims that Oasis Petroleum Inc. (OAS) would settle between $0.3819/share to $0.3953/share level. However, if the stock price goes below the $0.3532 mark, then the market for Oasis Petroleum Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.3379 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.0248. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at JP Morgan lowered their recommendation on shares of OAS from Overweight to Underweight in their opinion released on March 25. Barclays analysts have lowered their rating of Oasis Petroleum Inc. (NASDAQ:OAS) stock from Equal Weight to Underweight in a separate flash note issued to investors on March 24. Analysts at Stephens lowered the stock to a Underweight call from its previous Equal-Weight recommendation, in a research note that dated back to March 20.

OAS equity has an average rating of 2.8, with the figure leaning towards a bullish end. 23 analysts who tracked the company were contacted by Reuters. Amongst them, 13 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated Oasis Petroleum Inc. (NASDAQ:OAS) as a buy or a strong buy while 7 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, OAS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 83.3. Oasis Petroleum Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 0.6.

Oasis Petroleum Inc. (OAS)’s current-quarter revenues are projected to climb by nearly -33.6% to hit $382240, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -24.3% from $2.07 billion to a noteworthy $1.57 billion. At the other end of the current quarter income statement, Oasis Petroleum Inc. is expected to see its adjusted earnings surge by roughly -400% to hit $-0.1 per share. For the fiscal year, OAS’s earnings are projected to climb by roughly -1866.7% to hit $-0.53 per share.