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Strong Buy on Oasis Petroleum - Analyst Blog
6/26/2013 1:20:00 PM
On Jun 25, Zacks Investment Research upgraded
Oasis Petroleum Inc.
) to a Zacks Rank #1 (Strong Buy).
Oasis Petroleum's consistent investments in exploration and
production (E&P) activities have paid rich dividends. In
2013, the company decided to invest nearly 97.8% of its proposed
capital expenditure of $1.02 billion in E&P activities. The
solid performance and systematic investment in operations
prompted the company to increase its production guidance to the
range of 31,000 Boepd to 34,000 Boepd.
The Zacks Consensus Estimate for 2013 increased 12.1% in the
last 60 days to $2.65 per share as 13 estimates were revised
higher. This comes to a year-over-year projected growth rate of
76.53%. The long-term earnings growth of the company is presently
pegged at 32.50%.
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