Deutsche Bank Upgrades Oasis Petroleum (OAS) to Buy
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Deutsche Bank upgraded Oasis Petroleum (NYSE: OAS) from Hold to Buy with a price target of $16.
Analyst Josh Silverstein said, "Although we see some uncertainty in the s-t outlook, we remain positive the E&Ps with our preference remaining oil over the natural gas focused producers (though we are being mindful ahead of winter). The universal message of ramping activity just as the forward curves are declining was conflicting, though our read was that corporate cost structures are now largely set up for a $50/bbl environment with asset quality and balance sheet strength differentiating should crude oil remain below this level. PE, FANG, RSPP, CXO, ECA, NFX, CLR, QEP remain Buy rated while OAS moves to our favored crude oil levered equity. Although OAS has outperformed over three months, the outlook is now more sustainable at <$50/bbl pricing, the SM acquisition improved the core Williston position along with increasing the midstream value (with more acquisitions only further enhancing the asset base), and maturity risk has been pushed out to 2021."
Shares of Oasis Petroleum closed at $12.21 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Cowen Cuts Price Target on Workday (WDAY) Following 3Q
- BTIG Cuts PT on Workday (WDAY) to $88 Following Q3 Results; Affirms at 'Buy'
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Related EntitiesDeutsche Bank, Crude Oil, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!