Market Overview

Oasis Petroleum Lower After Goldman Sachs Downgrade And 40 Million Share Offering

Related OAS
7 Biggest Price Target Changes For Monday
Benzinga's Top Upgrades, Downgrades For December 21, 2016
Sanctuary Wealth Advisors, LLC Buys US Silica Holdings Inc, Oasis Petroleum Inc, Array ... (GuruFocus)

Oasis Petroleum Inc. (NYSE: OAS) shares are trading lower by $0.23 (2.6 percent) at $11.00 in Tuesday's session. Two factors are contributing to the slight decline.

First of all, Goldman Sachs downgraded the issue from Neutral to Sell and lowered its price target from $8.75 to $8.50. Also contributing to the decline is the announcement of 40 million share offering.

Despite the double dose of bad news, the issue still managed a higher open that fell shy of Monday's high ($11.42), only reaching $11.39, before reversing course.

The ensuing decline took the issue to $10.57 before rebounding back to the $11 area. That low coincides with its September 29 low of $10.46.

Posted-In: Technicals Intraday Update Movers Trading Ideas


Related Articles (OAS)

View Comments and Join the Discussion!