BMO Capital Markets Raises Oasis Petroleum PT to $35 with a Market Perform Rating

BMO Capital Markets raised its price target for Oasis Petroleum Inc. OAS from $30 to $35 with a Market Perform rating. BMO capital Markets noted, "we are raising our target price to $35, in line with our risked NAV analysis. We show the shares trading at <5.0x forward EBITDA. Cheap. We show the shares discounting less than $6,000 per acre without adjusting for proved reserve value and valuing current production at $75k per flowing barrel. Cheap. We show the shares valuing our resource potential estimate at only $11.00/BOE. Cheap." Oasis Petroleum closed at $30.13 on Wednesday.