Oasis Petroleum (OAS) Stock Dips on Oil Prices
NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) - Get Report are down 5.52% to $8.81 in midday trade as oil prices slide on lower-than-expected crude stockpile losses.
The U.S. Energy Information Administration released a report showing that crude oil supplies fell by 2.5 million barrels for the week ending July 8. Analysts were expecting a decline of 3.25 million barrels.
Domestic production is also up, climbing by 57,000 barrels a day to 8.48 million barrels a day.
Crude oil (WTI) dropped 4.23% to $44.82 per barrel and Brent crude fell 4.64% to $46.22 per barrel.
Despite the drop in oil futures, Ladenburg Thalmann upped its rating on Oasis Petroleum to "buy" from "neutral" in an analyst note released this morning.
Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and disappointing return on equity.
You can view the full analysis from the report here: OAS
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.