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Oasis Petroleum Falls in Premarket Trading Tuesday

December 13
05:06 2017

– By Omar Venerio

U.S. stocks opened in green territory ahead of the start of the Federal Reserve”s two-day meeting. The Federal Open Market Committee is expected to announce its third interest rate hike of the year tomorrow.

In Tuesday premarket trading, Oasis Petroleum Inc. (OAS) declined more than 6.5% after it announced Monday afternoon it is acquiring 20,300 net acres of the Delaware Basin for $ 946 million from Forge Energy. The deal is expected to close in February 2018.

  • Warning! GuruFocus has detected 3 Warning Signs with OAS. Click here to check it out.
  • OAS 15-Year Financial Data
  • The intrinsic value of OAS
  • Peter Lynch Chart of OAS

Gainers

  • The Boeing Co. (BA)
  • Comcast Corp. (CMCSA)
  • Coty Inc. (COTY)
  • Seagate Technology PLC (STX)

Losers

  • Iron Mountain Inc. (IRM)
  • Edison International (EIX)
  • Mattel Inc. (MAT)
  • Qorvo Inc. (QRVO)

Global markets

The main European stock markets traded higher. The U.K.”s FTSE 100 gained 0.64%, Germany”s DAX climbed 0.24% and France”s CAC 40 advanced 0.53%, but Spain”s IBEX 35 slid 0.44%.

In Asia, China”s SSE Composite declined 1.25%, Hong Kong”s Hang Seng fell 0.59%, India”s BSE Sensex slid 0.68% and Japan”s Nikkei 225 retreated 0.32%.

Disclosure : The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.

  • Warning! GuruFocus has detected 3 Warning Signs with OAS. Click here to check it out.
  • OAS 15-Year Financial Data
  • The intrinsic value of OAS
  • Peter Lynch Chart of OAS

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