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Is Oasis Petroleum Inc. (OAS) A Good Stock To Buy?

Seeing as Oasis Petroleum Inc. (NYSE: OAS) has experienced a declining sentiment from hedge fund managers, it’s safe to say that there is a sect of hedge funds that slashed their entire stakes by the end of the third quarter. At the top of the heap, Dmitry Balyasny’s Balyasny Asset Management said goodbye to the biggest position of the “upper crust” of funds tracked by Insider Monkey, totaling an estimated $32.3 million in stock, and Kyle Bass’s Hayman Advisors was right behind this move, as the fund dropped about $18.7 million worth. These bearish behaviors are important to note, as total hedge fund interest fell by 2 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Oasis Petroleum Inc. (NYSE:OAS) but similarly valued. We will take a look at Marketo Inc (NASDAQ:MKTO), Examworks Group, Inc. (NYSE:EXAM), Aduro BioTech Inc (NASDAQ:ADRO), and Atlantic Tele-Network, Inc. (NASDAQ:ATNI). This group of stocks’ market valuations match OAS’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MKTO 15 97152 -2
EXAM 13 100795 -2
ADRO 9 63154 -2
ATNI 9 41405 0

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $76 million. That figure was $417 million in OAS’s case. Marketo Inc (NASDAQ:MKTO) is the most popular stock in this table. On the other hand Aduro BioTech Inc (NASDAQ:ADRO) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks, Oasis Petroleum Inc. (NYSE:OAS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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