Tuesday, July 27, 2010

UBS (NYSE:UBS) Starts Oasis Petroleum (NYSE:OAS) with "Buy" Rating

UBS (NYSE:UBS) has launched coverage of Oasis Petroleum (NYSE:OAS), and they began with a "Buy" rating on the energy company, with a price target of $20 a share.

"We favor Oasis’ pure-play Bakken, 91% oil-weighted profile and believe that management can achieve the most attractive growth profile in the space through 2012 without additional external financing," said the UBS analyst covering the company.

Oasis Petroleum focuses on unconventional natural gas and oil resources to develop and/or acquire.

Oasis was down today to $16.28, dropping $0.40, or2.40 percent as of 3:50 PM EDT.

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