Oil Price Predictions for 2022 and 5 Stocks to Watch

4. Oasis Petroleum Inc. (NASDAQ:OAS)

Number of Hedge Fund Holders: 27

Oasis Petroleum Inc. (NASDAQ:OAS) is a Texas-based exploration company that focuses on the acquisition and development of onshore unconventional oil and natural gas resources in the United States. 

Oasis Petroleum Inc. (NASDAQ:OAS) and Whiting Petroleum Corporation (NYSE:WLL) on March 7 announced plans to combine in a $6 billion merger of equals.

On February 23, Oasis Petroleum Inc. (NASDAQ:OAS) reported earnings for the fourth quarter. Oasis Petroleum Inc. (NASDAQ:OAS) posted an EPS of $5.68, topping estimates by $0.11. Revenue over the period came in at $521.28 million, up 102.06% year-over-year, surpassing market consensus by approximately $200 million. 

Oasis Petroleum Inc. (NASDAQ:OAS) announced on March 11 the declaration of its first variable dividend in the amount of $3.00 per share, payable on March 31 to shareholders of record on March 21. This is in line with its previously announced plan to return $70 million of capital to shareholders per quarter.

Truist analyst Neal Dingmann raised the price target on Oasis Petroleum Inc. (NASDAQ:OAS) to $207 from $180 and kept a Buy rating on the shares on March 8. The analyst cited the company having made its merger announcement with Whiting Petroleum Corporation (NYSE:WLL) official, stating that with a strong 60% shareholder return target and a contiguous acreage position, he continues to see upside in the shares. 

A total of 27 hedge funds were long Oasis Petroleum Inc. (NASDAQ:OAS) at the end of December 2021, up from 19 funds in the earlier quarter. Aristeia Capital is the leading shareholder of the company, with 651,860 shares worth $82.1 million.