Oasis Petroleum (OAS) Stock Slides as Oil Prices Fall
NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) - Get Report are retreating 6.05% to $9.16 late Tuesday morning as oil prices tumble.
Crude oil (WTI) is slumping 4.53% to $46.77 per barrel and Brent crude is diving 4.37% to $47.91 per barrel this morning.
Oil prices are dropping today amid concerns of an economic slowdown spurred by the U.K.'s decision to leave the European Union and data that showed a build in stockpiles, Reuters reports.
Fears about the impact of the U.K.'s vote hit Britain's property market and pushed the pound to a 31-year low.
Data from market intelligence firm Genscape showed an increase of 230,025 barrels at the Cushing, OK storage hub for U.S. crude futures last week, Reuters noted.
Oasis Petroleum is a Houston-based exploration and production company.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
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.
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.
You can view the full analysis from the report here: OAS