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NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) are dipping by 4.13% to $6.84 late Monday morning as oil prices trade in the red.

Crude oil (WTI) is down by 0.81% to $39.14 per barrel and Brent crude is declining by 1.16% to $39.97 per barrel this morning, according to the index.

The price of the commodity extended last week's losses as traders returned from a long holiday weekend to a market with little improvement in supply and demand conditions, the Wall Street Journal reports.

"Oil remains oversupplied and a production freeze deal is not going to result in an acceleration of the global oil market returning back to a balanced position anytime soon," analyst Dominick Chirichella at the Energy Management Institute said in a note, cited by the Journal.

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

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Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

This is driven by multiple weaknesses, which 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 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 generally high debt management risk.

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

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