Seeking Alpha

Oasis Petroleum extends gains as analysts weigh in on Williston deal

  • Oasis Petroleum (OAS +4%) breaks out after yesterday's purchase of Williston Basin acreage sparks a round of analyst upgrades.
  • Deutsche Bank lifts shares to Buy with a $55 price target (from $45), saying the deal reduces risk of a dilutive deal in another basin.
  • RBC upgrades to Outperform with a $64 target, saying OAS has established an "enviable position" in the Williston play and the acquisition is "highly accretive."
  • Jefferies raises its target to a Street-high $68, SunTrust upgrades to Buy with a 27% upside, and Stephens says OAS is poised to reap benefits of greater scale.
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