A swing trade setup has occurred in OAS stock. In the last 30-minutes of trade on Friday, December 13, 2019, a surge of buying took place which kept the stock rising in after-hours trading.
As long as OAS stock stays above the 200 day moving average (red line) at $2.60, the stock has a bullish bias and is in-play for a swing long trade.
On December 13, 2019, S&P Dow Jones Indices announced that OAS stock is being removed from the S&P MidCap 400 and is being put into the S&P SmallCap 600 on December 23, 2019.
On December 12, 2019, Oasis Petroleum announced that it is transferring the listing of its shares from the New York Stock Exchange to The NASDAQ Stock Market LLC. Oasis expects its common stock to begin trading on Nasdaq at market open on December 24, 2019. The stock will continue to be listed under the ticker symbol “OAS.”
On November 5, 2019, Oasis Petroleum reported earnings and revenue beats. Oasis Petroleum reported Q3 EPS of 6c versus the consensus estimate of (1c). The company reported Q3 revenue of $482.74M versus the consensus estimate of $440.91M.
“Oasis delivered a strong quarter across several fronts,” said the company. “As expected, Williston production rebounded strongly compared to the second quarter, driven by Oasis’s prolific well results and industry-leading infrastructure. In the Delaware, we reached our year-end 2019 volume target, driven by high-return wells. Efficiency is improving rapidly, with Williston well costs expected to improve to $7.2M vs. $7.6M by year end and Delaware cycle times continuing to fall. E&P free cash generation during the quarter was supplemented by strong asset sale proceeds, both of which led to a meaningful reduction in net debt. We remain focused on driving additional operating efficiencies and reducing leverage further.”