Story updated at 9:55 a.m. to reflect market activity.
Shares of Oasis were gaining 1.5% to $48.23 in morning trading.
The analyst set a price target of $59 for the company. Oasis' sell-off appears overdone, and the company's margin visibility is improving according to Sterne Agee analysts.
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Separately, TheStreet Ratings team rates OASIS PETROLEUM INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate OASIS PETROLEUM INC (OAS) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, notable return on equity, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."