Market Overview

Citi Upgrades Oasis Petroleum On $50 Dollar Oil Estimates

Share:
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

DateFirmActionFromTo
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

 

Related Articles (OAS)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
WUBABOCOM InternationalDowngrades
DLTROTR GlobalUpgrades
ARCCCompass PointDowngrades
GTYHCitiInitiates Coverage On7.0
NKEGuggenheimMaintains100.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Grants Report Sends Signet Shares Tumbling, Cites Deceptive Accounting

Sarpeta Shares Slammed On Possible Reason For Delay In FDA Final Decision On Eteplirsen