Credit Suisse analyst William Featherston downgraded Oasis Petroleum to Neutral from Outperform and cut his price target for the shares to $7 from $15. The company's operational performance in 2018 "has been solid," but came at the expense of much higher exploration and production and midstream spending, Featherston tells investors in a research note. However, unlike the set-up earlier this year, the analyst believes it will be difficult for Oasis to "close its valuation gap" in a low oil price environment. It will be more difficult for Oasisto balance capex with cash flow due to "persistent midstream spend" that will result in continued cash flow deficits on a consolidated basis, says Featherston.