Oasis Petroleum downgraded as cost reduction likely has maxed out


Oasis Petroleum (OAS -3.5%) is downgraded to Hold from Buy at Canaccord, with shares near its $45 price target and seeing choppy production growth for the foreseeable future.

With ~335K net Bakken/Three Forks acres (305K considered core), OAS is viewed by the firm as a premier operator and one of the most levered companies to the oil-focused Williston Basin.

Costs have declined dramatically, but the firm thinks much of the low-hanging fruit in cost reduction has been picked.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs