Crude oil has recently found some great support as the drilling rig count is starting to decrease with a decreasing supply in the US oil for several weeks now. In addition to this, oil has gone through another depressing situation after the US inventories for crude oil rose to 7.3 million barrels, right after an expected drop of more than 2 million barrels. Recently, US WTI (crude) oil is down at $55.55 per barrel.
Price Futures Group analyst Phil Flynn, considers the data bearish. According to her, "It is a holiday flood of oil, especially that producers and refiners are allowing inventories to get lower, just in time for the year-end tax reasons. However, with this kind of supply, there is actually no place to accommodate all."
Oasis Petroleum is amongst the independent gas and oil companies that are experiencing the recent hit- being down at 5.70%. The analysts of Capital One Financial Corp. has downgraded Oasis Petroleum giving it an "equal weight" from its "overweight" rating. According to the Fly On The Wall, this depreciation rating was reflected in a research report intended for the company's investors and clients on Wednesday.
In another news that featured Oasis Petroleum, Micharl Mcshane has bought 50, 000 of the company's stock, Monday. Each of the stock's share were bought at a cost of $12; hence, costing Mcshane $600, 000.00 all in all.
On Wednesday, Oasis Petroleum opened at $16.66 with a $58.09 1-year high and $10.64 1-year low. In a span of 50 days, its moving average is recorded at $20.15 while $39.63 for 200 days. Oasis Petroleum has a 4:56 price to earning ratio and a total of $1.688 billion market cap.
Oasis Petroleum Incorporated is a production and exploration company. It focuses on the development and acquisition of natural gas and unconventional oil resources in the Williston Basic regions, specifically North Dakota and Montana.