Oil States International, Inc. (OIS) Hits New 12-Month Low on Disappointing Earnings

Oil States International, Inc. (NYSE:OIS) reached a new 52-week low on Friday following a weaker than expected earnings announcement. The stock traded as low as $20.88 and last traded at $20.70, with a volume of 1,003,462 shares. The stock had previously closed at $22.00.

The oil and gas company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.02). The firm had revenue of $164.00 million for the quarter, compared to the consensus estimate of $166.94 million. Oil States International had a negative net margin of 7.94% and a negative return on equity of 4.21%. The firm’s revenue was down 8.4% on a year-over-year basis.

A number of equities research analysts have weighed in on the company. Loop Capital reaffirmed a “buy” rating on shares of Oil States International in a research report on Monday, July 3rd. Zacks Investment Research lowered Oil States International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Wells Fargo & Company lowered Oil States International from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a research report on Friday, July 7th. Guggenheim lowered Oil States International from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 1st. Finally, BMO Capital Markets reduced their price target on Oil States International from $33.00 to $27.00 and set a “market perform” rating for the company in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $31.27.

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Oil States International by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 403,234 shares of the oil and gas company’s stock valued at $13,367,000 after buying an additional 27,159 shares in the last quarter. Earnest Partners LLC acquired a new position in Oil States International during the 2nd quarter valued at about $53,922,000. Hancock Holding Co. acquired a new position in Oil States International during the 2nd quarter valued at about $6,944,000. Van ECK Associates Corp increased its position in Oil States International by 9.1% during the 2nd quarter. Van ECK Associates Corp now owns 462,291 shares of the oil and gas company’s stock valued at $12,551,000 after buying an additional 38,403 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its position in Oil States International by 25.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 80,850 shares of the oil and gas company’s stock valued at $2,195,000 after buying an additional 16,173 shares in the last quarter.

The stock’s 50-day moving average is $24.53 and its 200 day moving average is $26.58. The firm’s market cap is $1.06 billion.

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Oil States International Company Profile

Oil States International, Inc, through its subsidiaries, provides specialty products and services to oil and natural gas related companies throughout the world. The Company operates as a technology-focused energy services company. The Company operates through two segments: Offshore Products and Well Site Services.

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