Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Oasis Petroleum (NYSE: OAS) jumped 13% today, continuing its climb this week.
So what: On Monday, Oasis reported solid earnings but with the market in the dumps and oil prices on a slide shares couldn’t do anything but wobble around. Then yesterday Morgan Keegan gave Oasis a jolt by upgrading shares from market perform to outperform.
Now what: It doesn’t hurt that oil is up 3% today, or that the entire market is up. Put all of these factors together and you have enough to propel Oasis Petroleum even higher today, although it’s really a delayed reaction from the company’s earnings report. Keep an eye on what oil prices do from here on out.
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