OMP - Oasis upgraded at RBC on simplified structure strong shareholder returns
ronniechua/iStock via Getty Images Oasis Petroleum ([[OAS]] +2.6%) powers higher after RBC upgrades shares to Outperform from Sector Perform with a $115 price target, edged up from $109, citing the company's "rapid progress" in simplifying its business structure, its solid operational execution and peer leading shareholder returns. "More work is still needed on the structure and the next path may need to pivot but we are confident OAS will continue to reduce" its relative ownership in Oasis Midstream Partners ([[OMP]] -0.9%), RBC's Scott Hanold writes. The analyst also likes Oasis' "attractive" 2% dividend yield, while the recently announced $4/share special dividend positions the company among the sector's highest yields. Shares are strong today even while most energy companies falter, as crude oil prices continue to reel since OPEC+ talks collapsed on Monday.
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Oasis upgraded at RBC on simplified structure, strong shareholder returns