Oasis Midstream Partners LP shares ended the last trading session 5.6% higher at $31.05. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28% gain over the past four weeks.
Oasis Midstream Partners extended its rally for the fifth straight day, driven by optimism over rising commodity prices spurred by vaccine-related developments, accelerating economic growth and an improving demand picture. The recovery in crude prices to a more than two and a half year-high of around $70 a barrel has lifted the midstream space and contributed to the strength in the partnership. Oasis Midstream units have also been buoyed by the recent transaction by parent company Oasis Petroleum to exit the Permian Basin. In particular, Oasis Midstream is likely to gain from higher activity levels through its infrastructure in the shale play based on the new operator’s plans.
This company is expected to post quarterly earnings of $0.68 per share in its upcoming report, which represents a year-over-year change of +112.5%. Revenues are expected to be $126 million, up 90.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Oasis Midstream Partners LP, the consensus EPS estimate for the quarter has been revised 5.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on OMP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Oasis Midstream Partners LP shares ended the last trading session 5.6% higher at $31.05. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28% gain over the past four weeks.
Oasis Midstream Partners extended its rally for the fifth straight day, driven by optimism over rising commodity prices spurred by vaccine-related developments, accelerating economic growth and an improving demand picture. The recovery in crude prices to a more than two and a half year-high of around $70 a barrel has lifted the midstream space and contributed to the strength in the partnership. Oasis Midstream units have also been buoyed by the recent transaction by parent company Oasis Petroleum to exit the Permian Basin. In particular, Oasis Midstream is likely to gain from higher activity levels through its infrastructure in the shale play based on the new operator’s plans.
This company is expected to post quarterly earnings of $0.68 per share in its upcoming report, which represents a year-over-year change of +112.5%. Revenues are expected to be $126 million, up 90.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Oasis Midstream Partners LP, the consensus EPS estimate for the quarter has been revised 5.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on OMP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>