UBS Maintains a 'Neutral' on Oasis Petroleum (OAS); 4Q Volume Light; 2012 Guidance Disappoints

UBS maintains a 'Neutral' on Oasis Petroleum (NYSE: OAS) price target lowered from $36 to $34.

UBS analyst says, "4Q production well below consensus...Meanwhile, 2012 capex of $884 MM was above consensus of $790 MM & UBSe of $850 MM. Given lower production forecast & higher G&A expense, we lowered ’12-’13 EPS/CFPS to $1.80/$4.55 & $2.55/$6.45 from $2.15/$5.30 & $2.90/$7.20."

"Proved reserve grew 98% YoY to 78.7 MMBoe, but was 10% below UBS estimate...Given lower production forecast & higher G&A expense, we lowered ’12-’13 EPS/CFPS to $1.80/$4.55 & $2.55/$6.45 from $2.15/$5.30 & $2.90/$7.20."

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 $33.95 yesterday.

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