<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 0000319767
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 OPPENHEIMER TARGET FUND
001 B000000 811-3105
001 C000000 2123230200
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
002 D020000 0203
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
018 000000 Y
019 A000000 Y
019 B000000 36
019 C000000 OPPENHEIMR
020 A000001 FIRST CHICAGO CAPITAL MARKET
020 B000001 36-3595942
020 C000001 2893
020 A000002 FIRST BOSTON CORP. (THE)
020 B000002 13-5659485
020 C000002 313
020 A000003 PAINEWEBBER, INC.
020 B000003 13-2638166
020 C000003 68
020 A000004 O'NEIL (WILLIAM) & CO., INC.
020 B000004 95-2269163
020 C000004 23
020 A000005 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000005 13-2741729
020 C000005 19
020 A000006 BRIDGE TRADING CO.
020 B000006 43-1034850
020 C000006 18
020 A000007 ALLEN & CO. INC.
020 B000007 13-6176976
020 C000007 16
020 A000008 A.G. EDWARDS & SONS, INC.
020 B000008 43-0895447
020 C000008 15
<PAGE> PAGE 2
020 A000009 ALEX BROWN & SONS, INC.
020 B000009 52-1319768
020 C000009 14
020 A000010 BEAR SECURITIES CORP.
020 B000010 13-3299429
020 C000010 14
021 000000 3645
022 A000001 FIRST CHICAGO CAPITAL MARKET
022 B000001 36-3595942
022 C000001 67700
022 D000001 0
022 A000002 NEUBERGER & BERMAN
022 B000002 13-5521910
022 C000002 0
022 D000002 970
022 A000003 UBS SECURITIES, INC.
022 B000003 13-2932996
022 C000003 690
022 D000003 0
022 A000004 MORGAN STANLEY & CO., INC.
022 B000004 13-2655998
022 C000004 461
022 D000004 0
022 A000005 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000005 13-5674085
022 C000005 0
022 D000005 211
022 A000006 COUNTY NATWEST SECURITIES CORP.
022 B000006 13-3312778
022 C000006 149
022 D000006 0
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022 D000007 0
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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070 A010000 Y
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 534455927
<INVESTMENTS-AT-VALUE> 688763945
<RECEIVABLES> 7773735
<ASSETS-OTHER> 133706
<OTHER-ITEMS-ASSETS> 2183
<TOTAL-ASSETS> 696673569
<PAYABLE-FOR-SECURITIES> 6496644
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3875364
<TOTAL-LIABILITIES> 10372008
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 502174062
<SHARES-COMMON-STOCK> 24765670
<SHARES-COMMON-PRIOR> 13330877
<ACCUMULATED-NII-CURRENT> 2261507
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 27557974
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 154308018
<NET-ASSETS> 682737269
<DIVIDEND-INCOME> 1868964
<INTEREST-INCOME> 2439462
<OTHER-INCOME> 0
<EXPENSES-NET> 1977170
<NET-INVESTMENT-INCOME> 2331256
<REALIZED-GAINS-CURRENT> 24272627
<APPREC-INCREASE-CURRENT> 35813697
<NET-CHANGE-FROM-OPS> 62417580
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1366709
<NUMBER-OF-SHARES-REDEEMED> 1209261
<SHARES-REINVESTED> 11277345
<NET-CHANGE-IN-ASSETS> 383537337
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3285347
<OVERDISTRIB-NII-PRIOR> 69749
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1273766
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1977170
<AVERAGE-NET-ASSETS> 349023000
<PER-SHARE-NAV-BEGIN> 22.63
<PER-SHARE-NII> .10
<PER-SHARE-GAIN-APPREC> 4.84
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 27.57
<EXPENSE-RATIO> 1.13
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 130732
<SHARES-COMMON-PRIOR> 47375
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3564292
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 102454
<NUMBER-OF-SHARES-REDEEMED> 19097
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 2108000
<PER-SHARE-NAV-BEGIN> 22.50
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> 4.68
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 27.26
<EXPENSE-RATIO> 2.02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Oppenheimer Target Fund
5. Acquisition of Oppenheimer Time Fund
<TABLE>
<S> <C>
On June 23, 1995, the Fund acquired all of the net assets of Oppenheimer Time
Fund, pursuant to Oppenheimer an Agreement and Plan of Reorganization approved
by the Oppenheimer Time Fund shareholders Time Fund on June 20, 1995. The
Fund issued 11,277,345 shares of beneficial interest (Class A), valued
at $248,246,176 in exchange for the net assets, resulting in combined Class A
net assets of $686,360,280 on June 23, 1995. The exchange qualifies as a
tax-free reorganization for federal income tax purposes.
</TABLE>
