NEW YORK ( TheStreet) -- Oasis Petroleum (NYSE: OAS) is trading at unusually high volume Wednesday with 5.8 million shares changing hands. It is currently at four times its average daily volume and trading down $1.86 (-5.5%) at $31.88 as of 3:45 p.m. ET. Oasis has a market cap of $3.05 billion and is part of the basic materials sector and energy industry. Shares are up 16% year to date as of the close of trading on Tuesday. Oasis Petroleum Inc., through its subsidiary, Oasis Petroleum LLC, engages in the acquisition and development of oil and natural gas resources primarily in the Williston Basin. Its oil and natural gas properties are located primarily in the Montana and North Dakota areas of the Williston Basin. The company has a P/E ratio of 24.7, below the average energy industry P/E ratio of 24.8 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Oasis as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Oasis Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.