AP NEWS

Oasis: 3Q Earnings Snapshot

November 5, 2019 GMT

HOUSTON (AP) _ Oasis Petroleum Inc. (OAS) on Tuesday reported third-quarter profit of $20.3 million.

On a per-share basis, the Houston-based company said it had net income of 6 cents. Losses, adjusted for non-recurring gains, were 5 cents per share.

The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The oil and gas exploration and production company posted revenue of $482.7 million in the period, which topped Street forecasts. Seven analysts surveyed by Zacks expected $473 million.

In the final minutes of trading on Tuesday, the company’s shares hit $2.92. A year ago, they were trading at $10.21.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OAS at https://www.zacks.com/ap/OAS