Mizuho Securities Starts Oasis Petroleum (OAS) at Buy

October 5, 2016 4:05 PM EDT
Get Alerts OAS Hot Sheet
Price: $11.44 +1.15%

Rating Summary:
    27 Buy, 17 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 7
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Mizuho Securities initiates coverage on Oasis Petroleum (NYSE: OAS) with a Buy rating and a price target of $15.00.

Analyst Timothy Rezvan commented, "Our Buy rating on OAS shares is driven by our bullish outlook on the impact Wild Basin production could have on capital efficiency and growth into '17. Oasis was unable to fund infrastructure spend on its core Wild Basin acreage until now. But the system has now been built and should have a game-changing improvement in capital efficiency in '17 as Oasis turns 1.2+ mmboe EUR wells to sales, works down its uncompleted well backlog and returns to production growth. Given this imminent improvement and depth of Wild Basin inventory, OAS shares appear undervalued."

For an analyst ratings summary and ratings history on Oasis Petroleum click here. For more ratings news on Oasis Petroleum click here.

Shares of Oasis Petroleum closed at $11.29 yesterday.

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