Oasis Petroleum Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Oasis Petroleum (NYS: OAS) jumped 13% today, continuing its climb this week.
So what: On Monday, Oasis reported solid earnings but with the market in the dumps and oil prices on a slide shares couldn't do anything but wobble around. Then yesterday Morgan Keegan gave Oasis a jolt by upgrading shares from market perform to outperform.
Now what: It doesn't hurt that oil is up 3% today, or that the entire market is up. Put all of these factors together and you have enough to propel Oasis Petroleum even higher today, although it's really a delayed reaction from the company's earnings report. Keep an eye on what oil prices do from here on out.
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At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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