In the present work, we examine the dynamics of a model for oscillons in one-dimensional space-time field theories with a cubic nonlinearity. We utilize a reduction of the model to first and third harmonics, which leads to a reduced partial differential equation (PDE) system whose steady states are candidates for the original PDE oscillons. We analyse the steady states of this model and their stability, via tools such as index theory. We develop suitable functionals needed for the study of such stationary states, as well as an analogue of the famous Vakhitov–Kolokolov criterion for a quantity whose change of monotonicity reflects a change of stability. Then, we test the relevant predictions, over the full range of oscillon frequencies, through systematic numerical computations of both the reduced model, its steady states and stability, and also of the original PDE model, identifying its time-periodic oscillon solution. Our results yield some significant connections with previous studies, but also some key new insights, both on the reduced system and the dynamics of the original system.