In the latest trading session, Oasis Midstream Partners LP (OMP) closed at $24.97, marking a +0.73% move from the previous day. This change outpaced the S&P 500's 0.14% loss on the day. Meanwhile, the Dow lost 0.45%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Coming into today, shares of the company had gained 8.4% in the past month. In that same time, the Oils-Energy sector gained 4.11%, while the S&P 500 lost 0.13%.
Wall Street will be looking for positivity from Oasis Midstream Partners LP as it approaches its next earnings report date. On that day, Oasis Midstream Partners LP is projected to report earnings of $0.66 per share, which would represent a year-over-year decline of 59.01%.
Any recent changes to analyst estimates for Oasis Midstream Partners LP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Oasis Midstream Partners LP is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Oasis Midstream Partners LP is currently trading at a Forward P/E ratio of 8.05. For comparison, its industry has an average Forward P/E of 9.56, which means Oasis Midstream Partners LP is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 240, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow OMP in the coming trading sessions, be sure to utilize Zacks.com.
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