Oasis Petroleum (OAS) Stock Falls on Lower Oil Prices

Oasis Petroleum (OAS) stock is taking a hit this morning on dropping oil prices.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) - Get Report  are down 2.03% to $8.20 this morning as oil prices fall.

Crude oil (WTI) is declining 1.36% to $44.14 per barrel and Brent crude is falling 1.19% to $45.65 per barrel.

Oil prices are retreating due to the global supply glut. Despite U.S. production dropping in recent weeks, crude inventories are at 519.5 million barrels, which is a historical high for this time of year, the Energy Information Administration reports.

BMI Research warns that supplies in Asia are "brimming."

Despite this, Schlumberger Limited (SLB), an oilfield services provider, said it expects "a significant global supply deficit" of crude oil, given steady growth in demand and a drop in spending on exploration and production, CNBC reports.

Oasis Petroleum is a Houston-based independent exploration and production company.

Separately, 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.

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

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