Market Overview

UPDATE: Deutsche Bank Upgrades Oasis Petroleum Following Bakken Acquisition Announcement

Related OAS
Top 4 Mid-Cap Stocks In The Independent Oil & Gas Industry With The Lowest PEG Ratio
Is Oasis Petroleum Stock A Solid Choice Right Now? - Tale Of The Tape

In a report published Friday, Deutsche Bank analyst Ryan Todd upgraded the rating on Oasis Petroleum (NYSE: OAS) from Hold to Buy, and raised the price target from $45.00 to $55.00.

In the report, Deutsche Bank noted, “We see OAS' announced acquisition in the Bakken as a double victory for the company as it, 1) significantly increases the core acreage/inventory position available to one of the basin's best operators for a reasonable price, and 2) reduces/removes the two primary market concerns: core (non-MT) inventory and risk of an expansion outside the basin. Despite some near-term dilution on cash flow metrics, we view OAS as one of the more attractively valued debt-adjusted CF growers, with additional upside from rig acceleration and downspacing/lower benches. Target price from $45 to $55 and upgrade to BUY.”

Oasis Petroleum closed on Thursday at $41.88.

Posted-In: Deutsche Bank Ryan ToddAnalyst Color Upgrades Analyst Ratings

 

Most Popular

Related Articles (OAS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free