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Oasis Petroleum Inc. stock price
Oasis Petroleum Inc. latest news:
Oasis Petroleum's stock leads NYSE losers after share offering, analyst downgrade
Shares of Oasis Petroleum Inc. sank 11% on heavy volume Tuesday, after the oil and gas exploration and production company announced a public offering of common stock, and after a SunTrust Robinson Humphrey downgrade. The stock was the biggest decline on the NYSE, and volume of 43 million shares was about five times the full-day average, and enough to make the stock the most actively traded on major U.S. exchanges. The company said late Monday that it was selling 32 million shares of common stock to the public for gross proceeds of approximately $321.9 million, implying a per-share price of about $10.06. Separately, the company said late Monday it agreed to buy 20,300 acres in the Delaware Basin for $946 million, consisting of $483 million in cash and 46 million shares of common stock. SunTrust RH analyst Neal Dingmann downgraded Oasis to hold from buy, and slashed his stock price target to $11 from $14, citing the "hefty price" the company paid to enter the Delaware Basin. The stock has plunged 41% year to date, while the SPDR Energy Select Sector ETF has slipped 7.1% and the S&P 500 has climbed 19%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Oasis Petroleum Inc Announces Pricing Of Public Offering Of Common Stock
Oasis Petroleum Inc(OAS): * ANNOUNCES PRICING OF PUBLIC OFFERING OF COMMON STOCK. * SAYS OFFERING 32.0 MILLION COMMON SHARES. * TOTAL GROSS PROCEEDS OF APPROXIMATELY $321.9 MILLION Source text for Eikon: Further company coverage:
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