UBS Maintains a 'Buy' on Oasis Petroleum (OAS); 3Q In Line; Growth Accelerates in 4Q
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Price: $109.30 --0%
Rating Summary:
17 Buy, 20 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 20 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Buy' on Oasis Petroleum (NYSE: OAS) price target raised from $33 to $35.
UBS analyst says, "Clean 3Q EPS/CFPS of $0.23/$0.61 was in line with consensus of $0.23/$0.59 and our estimate. 3Q production of 11.6 MBoed rose 47% QoQ but was in the lower half of the 11-12.5 MBoed guidance range...OAS recently lowered its FY‘11 production to 11 MBoed and reaffirmed its ‘11 capex of $627 MM (3Q capex of $206 MM is in line). We forecast ‘11-’12 prod’n of 11 MBoed & 23 MBoed and are modestly revising 2012 EPS/CFPS to $1.75/$4.60 from $1.80/$4.60 on higher DD&A expense. We also revised our 2P NAV to $39/sh to include a conservative Three Forks NAV of ~$4/sh, reflecting increased Three Forks drilling activities with 6-7 operated wells targeted this year."
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 $31.30 yesterday.
UBS analyst says, "Clean 3Q EPS/CFPS of $0.23/$0.61 was in line with consensus of $0.23/$0.59 and our estimate. 3Q production of 11.6 MBoed rose 47% QoQ but was in the lower half of the 11-12.5 MBoed guidance range...OAS recently lowered its FY‘11 production to 11 MBoed and reaffirmed its ‘11 capex of $627 MM (3Q capex of $206 MM is in line). We forecast ‘11-’12 prod’n of 11 MBoed & 23 MBoed and are modestly revising 2012 EPS/CFPS to $1.75/$4.60 from $1.80/$4.60 on higher DD&A expense. We also revised our 2P NAV to $39/sh to include a conservative Three Forks NAV of ~$4/sh, reflecting increased Three Forks drilling activities with 6-7 operated wells targeted this year."
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 $31.30 yesterday.
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