The stock of Oasis Midstream Partners LP (NASDAQ:OMP) is now priced at $8.35 and the shares are 0.11 points up or 1.33% higher compared to its previous closing price of $8.24. The stock had 106906 contracts set over the past session. OMP shares’ daily volume is compared to its average trading volume at 517812 shares. However, it has a float of 10.81 million and although its performance was 9.87% over the week, it’s one to watch. Analysts have given the OMP stock a yearly average price target of $11.2 per share. It means the stock’s upside potential is 34.13% with the OMP share price recently placing at $8.15 to $8.58. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are running away from the Oasis Midstream Partners LP stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the OMP shares have declined. Short interest in the stock represents just 3.49% of its float, but the volume has dropped by -34338. The volume of shorted shares dropped to 377404 from 411742 shares over the last two weeks. The average intraday trading volume has been 271836 shares, which means that days to cover moved to roughly 1.388352.
In the last trading session, Oasis Midstream Partners LP (NASDAQ:OMP) raised by $0.75 over the week and lost -$1.08 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $22. The stock recorded its established 52-week high on 07/26/19.
Since 03/18/20, the stock has traded to a low of $2.8 at 198.21%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Oasis Midstream Partners LP’s two-week RSI is 51.25. This suggests that the stock is neutral at the moment and that OMP shares’ price movement remains stable. The stochastic readings are equally revealing at 48.7% meaning the OMP share price is currently in neutral territory.
The technical chart shows that the OMP stock will likely settle at between $8.57 and $8.79 per share. However, if the stock dips below $8.14, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.93.
Currently, the stock is trading in the green of MACD, with a reading of 0.4. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Tudor Pickering cut their recommendation for OMP from Buy to Hold in May 12 review. Wells Fargo analysts downgraded their recommendation of the stock from Equal Weight to Underweight while keeping its target price at $5 to $3 in a flash note released to investors on April 14. CapitalOne seeing the stock struggling downgraded it from Overweight to Equal Weight on March 25.
The average rating for the OMP equity is 3.4 and is currently gathering a bearish momentum. Of 5 analysts tracking Oasis Midstream Partners LP polled by Reuters, 3 rated OMP as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the OMP stock price is 2.72X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 13below the group’s average of 34.3. Oasis Midstream Partners LP has its P/E ratio at 1.4, which means that the stock is currently trading at a discount relative to the 1.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Oasis Midstream Partners LP (NASDAQ:OMP) will decrease by about -99.93%, which will see them reach $79.3 million. The company’s full-year revenues are, however, expected to diminish by about -6.17%, down from $410.19 million to $384.9 million. OMP’s expected adjusted earnings should drop almost -25% to end up at $0.57 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -101.76% to record -$0.06/share.