NEW YORK (TheStreet) -- Shares of Oasis Petroleum Inc. (OAS) are lower by 4.16% to $25.80 in early afternoon trading on Wednesday, after the company reported its third quarter 2014 adjusted net income was $52.3 million, or 52 cents per diluted share, falling short of the 72 cents per share analysts polled by Thomson Reuters were expecting.
The oil and natural gas resources exploration and production company said total revenue for the most recent quarter was $368.6 million versus $305.5 million for the 2013 third quarter. Analysts forecast for revenue of $382.81 million for the quarter.
However, Oasis Petroleum said its third quarter 2014 net income increased to $121.6 million, or $1.21 per diluted share, compared to $54.5 million, or 59 cents per share for the year ago period.
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 multiple strengths, 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 and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: OAS Ratings ReportOAS data by YCharts