To remove a paint or oil finish from a stock you can use Lacquer thinner or Acetone. The carrier in lacquer is lacquer thinner. So, lacquer thinner will "burn" (start to dissolve) the oil finish if sprayed onto it. It will do the same to enamel. You would need to remove the oil finish, lacquer prime the wood and then spray it with lacquer. You might also need to apply a coat of fiberglass - resin, like Bondo, to fill the wood first, before the primer. Any surface to be lacquer finished needs to be absolutely smooth or it will show every ding, dent or flaw.
I have never used water based lacquers so they may and probably would act differently.
Around here we started carrying our match gun stocks to body shops to be sprayed then they refused to take them unless we prepped them first. It is a PIA by the way. It did not take long for us to go to clear oil without any gloss, so any touch up could be done easily. If you want to see stupid, just put a $300-400 paint job on a stock, stupid jumps out of the woodwork onto the stock.
Ed