Oasis: 3Q Earnings Snapshot
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.