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Can Oasis Petroleum (OAS) Keep the Earnings Streak Alive This Quarter?

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Looking for a stock that might be in a good position to beat earnings at its next report? Consider Oasis Petroleum Inc. , a firm in the Oil and Gas - Exploration and Production - United States industry, which could be a great candidate for another beat.

This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, OAS has beaten estimates by at least 15% in both cases, suggesting it has a nice short-term history of crushing expectations.

Earnings in Focus

Two quarters ago, OAS expected to post a loss of 15 cents per share, while it actually produced a loss of 11 cents per share, a beat of 26.7%. Meanwhile, for the most recent quarter, the company looked to deliver a loss of 20 cents per share, when it posted loss of 17 cents per share instead, representing a 15% positive surprise.

OASIS PETROLEUM Price and EPS Surprise

OASIS PETROLEUM Price and EPS Surprise | OASIS PETROLEUM Quote

Thanks in part to this history, recent estimates have been moving higher for Oasis Petroleum. In fact, the Earnings ESP for OAS is positive, which is a great sign of a coming beat.

After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for OAS, as the firm currently has a Zacks Earnings ESP of 8.33%, so another beat could be around the corner.

This is particularly true when you consider that OAS has a great Zacks Rank #3 (Hold) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that OAS could see another beat at its next report, especially if recent trends are any guide.

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