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Tuesday, August 6, 2019

=Oasis Petroleum (OAS) reported earnings on Tue 6 Aug 2019 (a/h)

Oasis Petroleum (OAS) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this oil and gas exploration and production company would post earnings of $0.04 per share when it actually produced a loss of $0.02, delivering a surprise of -150%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Oasis, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $529.41 million for the quarter ended June 2019, surpassing the Zacks Consensus Estimate by 4.98%. This compares to year-ago revenues of $501.34 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Oasis shares have lost about 28.9% since the beginning of the year versus the S&P 500's gain of 13.5%.

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