Long Position on OAS @ $49.33 on 5/29/2014 (Fundamentals)

Oasis Petroleum (OAS) is an independent oil and exploration and production company.

The firm focuses on the acquisition and development of oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin.

The company’s primary projects are located in West Williston, East Nesson, and Sanish.

As of December 31, 2013, it had 515,314 net leasehold acres in the Williston Basin; and had approximately 105.8 million barrels of oil equivalent of proved undeveloped reserves. The company sells its oil and natural gas products to refiners, marketers, and other purchasers that have access to pipeline and rail facilities.

Shares are heading higher in an upward trading channel. They are currently at the lower boundary of the said channel. Higher share prices are expected for this stock.

52-Week Trading Range: $36.82 - $57.33

Entry Point: $49.33

Stop Loss: $46.85

Target Price: $54.26

Updates

6/27/2014 10:28:56 AM

OAS reached our target price. Closed at $54.27.

Position closed on 6/27/2014 at price of $54.27 with a 10.01% gain in 29 days.

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