The firm's decision follows the Houston-based oil and natural gas company's 2016 first quarter results that "generally met" analysts' expectations.
Earlier this month, Oasis reported a first quarter adjusted loss of 18 cents per share, coming in line with Wall Street estimates. The company reported revenue of $130.3 million for the 2016 first quarter, below analysts' expectations of $159.7 million.
In addition, oil prices continue to rise on Thursday as the supply glut comes to an end. Crude oil (WTI) is up by 0.18% to $49.65 per barrel and Brent oil is rising by 0.24% to $49.86 per barrel, CNBC reports early this afternoon.
Meanwhile, shares of Oasis are slipping by 0.48% to $10.41.
Separately, TheStreet Ratings rated Oasis Petroleum as a "sell" with a score of D.
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 has this to say about the recommendation:
This is driven by a few notable weaknesses, which TheStreet Ratings believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks that are covered.
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