Bakken Weekly Roundup

In the last few days,  two of the stocks we have profiled recently have had some positive press.   Oasis Petroleum (OAS: 7.34 -2.26%) had a breakout on Friday hitting $30 for the first time in almost 3 months.   Per OptionMonster, OAS rose 3.62 percent to $29.80, with more of those gains coming late in the session after the options traded. This indicates that it was the work of one or more large institutional investors building a position in the company, which develops shale-energy resources in Montana and North Dakota.   In looking at the chart below,  OAS has long term support around $24 and short term support around $28 as it has moved above its 200 MA.    Oasis has a forward PE of about 13 and still could be a nice addition to a larger O&G player in the region

 

In other news,  US Silica got a much needed upgrade to a Buy rating from BB&T capital markets this morning.   As shown below, the stock has shown good support at $10 and has some resistance around $10.90.   The stock appears due for a breakout after a dismal performance since its IPO a few months ago.   Recent earnings were aligned with expectations and the stock still sports a forward PE below 6.

Until Next Time,  Keep Drillin

 

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