Zacks Investment Research downgraded shares of Oil States International (NYSE:OIS) from a hold rating to a sell rating in a research note published on Friday.
According to Zacks, “Oil States International, Inc. is a diversified oilfield services company. With locations around the world, Oil States is a leading manufacturer of products for deepwater production facilities and subsea pipelines, and a leading supplier of a broad range of services to the oil and gas industry, including production-related rental tools, work force accommodations and logistics, oil country tubular goods distribution and land drilling services. Oil States is organized in three business segments Offshore Products, Tubular Services and Well Site Services. “
Other equities research analysts also recently issued research reports about the company. ValuEngine upgraded Oil States International from a hold rating to a buy rating in a research report on Thursday, August 23rd. Stifel Nicolaus started coverage on Oil States International in a research report on Monday, September 10th. They issued a buy rating and a $40.00 price objective on the stock. Morgan Stanley started coverage on Oil States International in a research report on Tuesday, September 18th. They issued an equal weight rating and a $35.00 price objective on the stock. Credit Suisse Group set a $28.00 price objective on Oil States International and gave the stock a hold rating in a research report on Tuesday, October 30th. Finally, SunTrust Banks reiterated a hold rating and issued a $35.00 price objective on shares of Oil States International in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $32.23.
Shares of OIS stock opened at $23.01 on Friday. 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 has a 52-week low of $21.39 and a 52-week high of $38.95.
Oil States International (NYSE:OIS) last issued its quarterly earnings data on Monday, October 29th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Oil States International had a negative return on equity of 0.44% and a negative net margin of 4.28%. The company had revenue of $274.59 million for the quarter, compared to the consensus estimate of $274.97 million. During the same quarter last year, the business posted ($0.30) earnings per share. The firm’s revenue was up 67.4% compared to the same quarter last year. On average, analysts anticipate that Oil States International will post -0.07 earnings per share for the current year.
In other Oil States International news, VP Brian E. Taylor sold 2,380 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $34.05, for a total transaction of $81,039.00. Following the sale, the vice president now owns 17,082 shares in the company, valued at $581,642.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.87% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. raised its position in Oil States International by 51.7% during the first quarter. Sei Investments Co. now owns 5,496 shares of the oil and gas company’s stock valued at $144,000 after purchasing an additional 1,873 shares in the last quarter. Amalgamated Bank purchased a new stake in Oil States International during the second quarter valued at about $277,000. Metropolitan Life Insurance Co. NY raised its position in 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 valued at $626,000 after purchasing an additional 1,985 shares in the last quarter. Alps Advisors Inc. raised its position in 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 valued at $810,000 after purchasing an additional 2,478 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its position in 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 valued at $886,000 after purchasing an additional 3,060 shares in 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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