NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) are down 8.78% to $12.99 as Brent crude oil fell more than $2 a barrel in Monday trading to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output, Reuters reports.
Brent for January LCOc1 was down $1.84 at $67.23 a barrel by 11 a.m. in New York, having fallen $2.30 to $66.77, its lowest since October 2009.
The U.S. contract, also known as West Texas Intermediate, touched $63.72 last week, its lowest since July 2009.
This continues the recent downtrend for Oasis, as the stock is now down over 50% since November 10.
The Houston-based oil and gas company has seen 12 downward analyst revisions over the last five weeks since the release of its third quarter earnings results, though the company has outperformed its peers in terms of year over year quarterly revenue growth, showing growth of 21% compared to the industry average of 12%.
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."