NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) are slumping, down 4.01% to $15.10 in afternoon trading Thursday, following the release of the oil and gas exploration and production company's lower than expected fourth quarter earnings results.
Oasis Petroleum posted profits of 35 cents per share for the quarter, falling short of the 58 cents analysts surveyed by Zacks Investment Research were expecting.
Revenue came in at $299.7 million in the period, also lower compared to the $335.6 million consensus estimate.
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For the year, the company reported earnings of $5.05 per share on revenue of $1.39 billion.
Also, Brent crude prices are trading in the red to below $61 a barrel this afternoon, as rising U.S. crude stockpiles offset signs of a recovery in demand, Reuters reports.
WTI crude for April delivery is down 3.71% to $49.10 a barrel as of 1:06 p.m. ET on the New York Mercantile Exchange, while Brent crude for April delivery is similarly lower by 1.41% to $60.76 a barrel today.
Houston-based Oasis Petroleum is an exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin.
Separately, TheStreet Ratings team rates OASIS PETROLEUM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate OASIS PETROLEUM INC (OAS) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself."
- You can view the full analysis from the report here: OAS Ratings Report