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Analyzing Oasis Petroleum’s Recent Stock Performance

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Sep. 15 2016, Published 12:13 p.m. ET

Oasis’s moving averages

After showing a consistent downtrend in 2H15, Oasis Petroleum’s (OAS) stock starting rising in early 2016 due to the rally in crude oil prices (USO). Now, after dipping in July and August, the stock has again started to show an uptrend.

On March 2, 2016, Oasis Petroleum’s stock crossed its 50-day MA (moving average) for the first time in 2016. It was able to stay above 50-day MA levels until June 26, 2016, when it crossed under its 50-day MA.

However, as the stock started rising again mid-August, OAS again crossed its 50-day MA on August 12, 2016. As of September 13, 2016, OAS stock was trading ~8% above its 50-day MA.

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200-day MA

Oasis Petroleum broke above its 200-day MA April 19, 2016, for the first time in 2016. However, unlike its 50-day MA, it wasn’t able to sustain at those levels for long, crossing under its 200-day MA on May 3, 2016.

OAS’s stock broke above its 200-DMA again on May 10, 2016—this time for a longer duration until July 7, 2016, when it crossed under its 200-day MA again. On August 5, 2016, OAS again crossed its 200-day MA and continues to stay above it. As of September 13, 2016, OAS stock was trading ~18.5% above its 200-day MA. YoY (year-over-year), OAS stock has risen 6%.

Meanwhile, peers Newfield Exploration (NFX) and Continental Resources (CLR) have risen ~26% and ~69% YoY, respectively, while Hess (HES) has fallen ~8% in the same period as of September 13. All these companies combined make up 5.6% of the iShares US Oil & Gas Exploration & Production ETF (IEO).

You can read more about OAS’s 2Q16 performance at Market Realist’s “Oasis Petroleum’s 2Q16 Earnings Were Better than Expected.” For a comprehensive analysis of the company’s fundamentals, keep reading this series. We’ll move next to Oasis’s recent earnings trend.

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