Oasis Petroleum (NYSE: OAS) reported earnings on Aug. 6. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Oasis Petroleum beat slightly on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share increased significantly.

Gross margins improved, operating margins shrank, net margins increased.

Revenue details
 Oasis Petroleum reported revenue of $149.1 million. The 12 analysts polled by S&P Capital IQ looked for revenue of $147.3 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $67.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.32. The 17 earnings estimates compiled by S&P Capital IQ forecast $0.32 per share. GAAP EPS of $0.82 for Q2 were 128% higher than the prior-year quarter's $0.36 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 80.6%, 40 basis points better than the prior-year quarter. Operating margin was 40.4%, 4,880 basis points worse than the prior-year quarter. Net margin was 51.0%, 140 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $170.1 million. On the bottom line, the average EPS estimate is $0.38.

Next year's average estimate for revenue is $647.5 million. The average EPS estimate is $1.46.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 125 members out of 128 rating the stock outperform, and three members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Oasis Petroleum a green thumbs-up, and give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Oasis Petroleum is outperform, with an average price target of $38.63.

Over the decades, small-cap stocks, like Oasis Petroleum have provided market-beating returns, provided they're value priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: Two Small Caps the Government Won't Let Go Broke." Click here for instant access to this free report.