Canaccord Genuity Reiterates a 'Buy' on Oasis Petroleum (OAS); Optimizing Asset Base for Cost-efficient Execution in 2012

Canaccord Genuity reiterates a 'Buy' on Oasis Petroleum (NYSE: OAS) price target of $35.00.

Canaccord analyst, Marcus Talbert, said, "We are reiterating our rating and target price based on the company’s strong ramp in Q3/11 activity and project updates. In our view, Oasis is attractively priced for a company with its proven management team, relative growth potential and strong liquidity position. OAS currently trades at a 15% discount to its operated Bakken peer group (EV/EBITDAX ‘12E). We believe project management initiatives and completion advancements will drive the next leg of NAV/share price accretion into 2012."

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 $31.12 yesterday.

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