Oil States International (OIS) Given a $32.00 Price Target by Morgan Stanley Analysts

Oil States International (NYSE:OIS) has been assigned a $32.00 price objective by Morgan Stanley in a note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Morgan Stanley’s target price points to a potential upside of 39.19% from the stock’s previous close.

Several other equities research analysts also recently commented on OIS. Credit Suisse Group set a $28.00 price objective on shares of Oil States International and gave the stock a “hold” rating in a research note on Tuesday, October 30th. Zacks Investment Research downgraded shares of Oil States International from a “hold” rating to a “sell” rating in a research note on Friday. Cowen lowered their price objective on shares of Oil States International from $36.00 to $33.00 and set a “market perform” rating for the company in a research note on Tuesday, July 31st. Raymond James lowered their price objective on shares of Oil States International from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, October 30th. Finally, ValuEngine upgraded shares of Oil States International from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.00.

OIS traded down $0.02 during trading on Tuesday, hitting $22.99. The stock had a trading volume of 66,820 shares, compared to its average volume of 682,822. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -21.69 and a beta of 1.90. Oil States International has a twelve month low of $21.39 and a twelve month high of $38.95. The company has a quick ratio of 1.91, a current ratio of 3.04 and a debt-to-equity ratio of 0.23.

Oil States International (NYSE:OIS) last announced its earnings results on Monday, October 29th. The oil and gas company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Oil States International had a negative net margin of 4.28% and a negative return on equity of 0.44%. The company had revenue of $274.59 million during the quarter, compared to the consensus estimate of $274.97 million. During the same period last year, the firm earned ($0.30) earnings per share. Oil States International’s revenue was up 67.4% compared to the same quarter last year. On average, sell-side analysts expect that Oil States International will post -0.07 EPS for the current year.

In related news, VP Brian E. Taylor sold 2,380 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $34.05, for a total transaction of $81,039.00. Following the completion of the transaction, the vice president now owns 17,082 shares of the company’s stock, valued at $581,642.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.87% of the company’s stock.

Several institutional investors have recently modified their holdings of OIS. Amalgamated Bank purchased a new position in shares of Oil States International during the second quarter worth $277,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of Oil States International by 11.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 19,494 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 1,985 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Oil States International by 10.9% during the second quarter. Alps Advisors Inc. now owns 25,234 shares of the oil and gas company’s stock worth $810,000 after purchasing an additional 2,478 shares during the last quarter. MetLife Investment Advisors LLC raised its holdings in shares of Oil States International by 12.5% during the second quarter. MetLife Investment Advisors LLC now owns 27,605 shares of the oil and gas company’s stock worth $886,000 after purchasing an additional 3,060 shares during the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of Oil States International by 16.7% during the first quarter. Guggenheim Capital LLC now owns 51,892 shares of the oil and gas company’s stock worth $1,361,000 after purchasing an additional 7,437 shares during the last quarter.

About Oil States International

Oil States International, Inc, through its subsidiaries, provides oilfield products and services for the drilling, completion, subsea, production, and infrastructure sectors of the oil and gas industry worldwide. The company operates through three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products.

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Analyst Recommendations for Oil States International (NYSE:OIS)

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