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Citi Upgrades Oasis Petroleum On $50 Dollar Oil Estimates

Citi Upgrades Oasis Petroleum On $50 Dollar Oil Estimates

Citi's Jeanine Wai upgraded Oasis Petroleum (NYSE: OAS) from Neutral to Buy, increasing the price target from $12.00 to $13.00.

Now that Citi estimated WTI around $50.00/Bbl next year, Wai is comfortable with selecting names such as Oasis which are on significant leverage.

Additionally, the analyst noted Oasis' "above-average cash flow growth" which is expected to accelerate in the future. "The company has inventory of high quality drilled-but-uncompleted (DUC) wells that when utilized, dramatically increase near term capital efficiency" said Wai.

At the time of writing, Oasis was trading down 2.07 percent at $10.01.

Latest Ratings for OAS

Aug 2019Initiates Coverage OnBuy
Aug 2019DowngradesStrong BuyOutperform
Aug 2019DowngradesBuyHold

View More Analyst Ratings for OAS
View the Latest Analyst Ratings

Posted-In: Citi Jeanine WaiAnalyst Color Upgrades Price Target Analyst Ratings Best of Benzinga


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