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Fly News Breaks for August 13, 2019
OAS
Aug 13, 2019 | 08:14 EDT
Jefferies analyst Thomas Hughes lowered his price target for Oasis Petroleum to $5 from $7 citing the company's increased 2019 capex and decreased prod guidance. The analyst says that while the Q2 report "certainly didn't boost confidence" in Oasis Petroleum's 2019 free cash flow profile, he still thinks the long-term benefit of Delaware capex acceleration coupled with the company's deleveraging potential via monetization creates more value than what the stock trades at. As such, he keeps a Buy rating on the name.
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