Oasis Petroleum: The fifth-best upstream stock in 2018
So far in 2018, Oasis Petroleum (OAS) is the fifth-best-performing upstream stock from the US. Oasis Petroleum primarily operates in the Williston Basin in the US. Year-to-date in 2018, OAS rose ~49% from its 2017 close of $8.41 to $12.52. Oasis Petroleum has easily outperformed the SPDR S&P Oil and Gas Exploration & Production ETF (XOP) in 2018. XOP is up ~16% in 2018. OAS is also outperforming crude oil (USO) and natural gas (UNG). In 2018, so far, crude oil is up ~19%, whereas natural gas is down ~2%.
In comparison, the Energy Select Sector SPDR Fund (XLE) is up by ~8% in 2018.
Oasis Petroleum’s revenues and earnings
In Q1 2018, Oasis Petroleum reported revenues of ~$421 million, higher by ~48% when compared with revenues of ~$285 million in Q1 2017. In Q1 2018, OAS reported better adjusted net income of ~$30 million from a net income of ~-$11 million in Q1 2017. On a per-share basis, OAS posted adjusted profit of $0.10 per share in Q1 2018 from a loss of -$0.05 per share in Q1 2017.
Next, we’ll take a look at hedge funds’ statistics for the best-performing upstream stocks that we are discussing in this series.