Oil States International (NYSE:OIS) was downgraded by analysts at TheStreet from a “c-” rating to a “d+” rating in a report released on Thursday, March 15th.
A number of other research analysts also recently commented on the stock. ValuEngine downgraded shares of Oil States International from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. JPMorgan Chase reaffirmed a “buy” rating and issued a $28.00 price target (down previously from $29.00) on shares of Oil States International in a report on Wednesday, February 21st. Piper Jaffray set a $22.00 price target on shares of Oil States International and gave the company a “hold” rating in a report on Saturday, February 17th. Royal Bank of Canada set a $30.00 price objective on shares of Oil States International and gave the stock a “hold” rating in a research note on Friday, February 16th. Finally, Evercore ISI downgraded shares of Oil States International to an “outperform” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Oil States International currently has an average rating of “Hold” and a consensus price target of $28.50.
OIS stock traded down $0.55 during trading on Thursday, reaching $27.50. The company’s stock had a trading volume of 610,191 shares, compared to its average volume of 921,565. Oil States International has a 1 year low of $20.23 and a 1 year high of $34.72. The firm has a market capitalization of $1,650.41, a PE ratio of -25.94 and a beta of 1.75.
Oil States International (NYSE:OIS) last issued its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.05. Oil States International had a negative return on equity of 4.57% and a negative net margin of 12.65%. The business had revenue of $183.70 million during the quarter, compared to analyst estimates of $175.66 million. During the same quarter in the prior year, the business posted ($0.20) EPS. Oil States International’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities analysts anticipate that Oil States International will post -0.19 earnings per share for the current fiscal year.
In related news, major shareholder Holdings B.V. Hcperf sold 5,925,050 shares of Oil States International stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $25.79, for a total transaction of $152,807,039.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.97% of the company’s stock.
A number of hedge funds have recently modified their holdings of OIS. New York State Common Retirement Fund increased its holdings in Oil States International by 0.4% during the third quarter. New York State Common Retirement Fund now owns 681,287 shares of the oil and gas company’s stock valued at $17,271,000 after buying an additional 2,522 shares during the period. Quantbot Technologies LP grew its holdings in Oil States International by 193.8% in the third quarter. Quantbot Technologies LP now owns 5,326 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 3,513 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Oil States International by 35.2% in the third quarter. Ameriprise Financial Inc. now owns 210,216 shares of the oil and gas company’s stock worth $5,329,000 after purchasing an additional 54,770 shares during the last quarter. Van ECK Associates Corp grew its holdings in Oil States International by 18.1% in the third quarter. Van ECK Associates Corp now owns 546,072 shares of the oil and gas company’s stock worth $13,843,000 after purchasing an additional 83,781 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Oil States International by 46.3% in the third quarter. Nordea Investment Management AB now owns 97,678 shares of the oil and gas company’s stock worth $2,476,000 after purchasing an additional 30,892 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.
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Oil States International Company Profile
Oil States International, Inc, through its subsidiaries, provides specialty products and services to oil and gas companies worldwide. It operates through two segments, Well Site Services and Offshore/Manufactured Products. The Well Site Services segment offers a range of equipment and services that are used to drill for, establish, and maintain the flow of oil and natural gas from a well throughout its lifecycle.
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