Oasis Petroleum Inc. (OAS - Free Report) was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $6.95 to $7.76 in the past one-month time frame.
The stock gained after the company reported that an initial public offering has been launched for its new master limited partnership, Oasis Midstream Partners LP.
The company has seen a mixed track record when it comes to estimate revisions of two increases and two decreases over the past few weeks, while the Zacks Consensus Estimate for the current quarterremained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Oasis Petroleum currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the Oil and Gas - Exploration and Production - United States industry is Lonestar Resources US Inc. (LONE - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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