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UPDATE: Oasis Petroleum Downgraded by KLR

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KLR Group analyst Gail Nicholson released a note Friday, downgrading Oasis Petroleum (NYSE: OAS) from Buy to Accumulate and lowering price target to $54.

The report notes, "Oasis is currently operating 14 rigs and anticipates adding two additional rigs in '14. The company has allocated ~$1,250 million towards drilling and completion this year and plans to complete ~205 gross wells (~155.5 net, ~60% during 2H/14). We are currently modeling OAS will grow production ~40% in '14."

KLR valuation is based of of a calculated 15 percent discount rate, projecting an appreciation of 21 percent from the Thursday's closing price of $44.46 to the price target of $54.

Latest Ratings for OAS

DateFirmActionFromTo
Aug 2020Piper SandlerMaintainsUnderweight
Jun 2020UBSMaintainsNeutral
Apr 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for OAS
View the Latest Analyst Ratings

 

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Posted-In: KLRDowngrades Price Target Analyst Ratings

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