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Oasis Petroleum (OAS) Stock Rises Amid Higher Oil Prices

NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS - Get Report) are up by 0.74% to $9.53 late Wednesday afternoon as oil prices rally.

Crude oil is up by 3.16% to $46.07 per barrel and Brent crude is up by 4.17% to $47.42 per barrel.

Oil prices rose more than 3% today after the U.S. government announced crude inventories fell unexpectedly for the first time since March, CNBC reported.

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Additionally, Nomura increased its price target on the stock to $10 from $5 and maintained its "neutral" rating.

The firm cited the company's "strong" 2016 first quarter as its reason for the price target...