Wells Fargo Adjusts EPS for OAS and PPL

Wells Fargo Securities is out with a research report this morning in which they lower their EPS estimates on Oasis Petroleum

and PPL Corporation

. OAS reported 3Q10 EPS which were $0.07, a cent lower than Wells Fargo's estimate. This lead Wells Fargo to adjust 2010/2011 EPS from $0.31/ $0.71 to $0.30/$0.73. The 2011 increase is due to the Hebron acquisition. OAS maintains a Market Perform rating and is trading at $24.73. Wells Fargo has lowered 2011-14 EPS for PPL. Wells Fargo writes, "We are lowering our 11-14E EPS to $2.55, $2.20, $2.20 & $2.35 from $2.70, $2.40, $2.40 & $2.60. The lower EPS reflects adjustments to our model related to higher assumed O&M (pension) and PPL's recent disclosures on external equity needs and the incremental cost of the company's new $4B credit facility." PPL is trading at $26.30.