NEW YORK (TheStreet) -- Shares of Oasis Petroleum Inc. (OAS) are soaring, sharply up 6.67% to $16.80 in late morning trading Wednesday, as energy companies are getting a boost ahead of a policy decision from the European Central Bank as well as a report on American payrolls, Bloomberg reports.
Investors are awaiting a decision by the ECB that may lead to full-scale quantitative easing when they meet tomorrow in Frankfurt, Germany. Printing money to boost bonds would in theory boost inflation and add to growth, Reuters added.
Also, the U.S. Labor Department releases its jobs report on Friday, as economists forecast nonfarm payroll to advance 235,000 in November after gaining 214,000 in October.
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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, impressive record of earnings per share growth and compelling growth in net income. 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."