In the last few days, two of the stocks we have profiled recently have had some positive press. Oasis Petroleum (Yahoo! – 403 Forbidden — error 403It has come to our attention that this service is being used in violation of the Yahoo Terms of Service. As such: the service is being discontinued. For all future markets and equities data research ) 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