Oil States International, Inc. (OIS) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Oil States International, Inc. (NYSE:OIS) from a sell rating to a hold rating in a report released on Friday morning.
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 research analysts have also recently issued reports about the company. J P Morgan Chase & Co reduced their price target on Oil States International from $31.00 to $26.00 and set an overweight rating for the company in a research report on Tuesday, September 12th. BMO Capital Markets reduced their price target on Oil States International from $24.00 to $22.00 and set a market perform rating for the company in a research report on Thursday. Loop Capital cut their price objective on Oil States International from $44.00 to $34.00 and set a buy rating for the company in a research report on Tuesday, August 1st. Cowen and Company set a $18.00 price objective on Oil States International and gave the company a market perform rating in a research report on Monday, October 30th. Finally, BidaskClub cut Oil States International from a sell rating to a strong sell rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Oil States International has an average rating of Hold and a consensus price target of $30.00.
Shares of Oil States International (OIS) traded down $0.10 during trading hours on Friday, hitting $23.75. The stock had a trading volume of 487,000 shares, compared to its average volume of 694,935. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.09 and a quick ratio of 2.60. Oil States International has a 1 year low of $20.23 and a 1 year high of $41.75.
Oil States International (NYSE:OIS) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $164.00 million for the quarter, compared to analysts’ expectations of $166.94 million. Oil States International had a negative net margin of 8.77% and a negative return on equity of 4.62%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. equities analysts predict that Oil States International will post -1.07 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OIS. Earnest Partners LLC acquired a new position in Oil States International during the second quarter worth $53,922,000. Rice Hall James & Associates LLC boosted its stake in Oil States International by 452.3% during the third quarter. Rice Hall James & Associates LLC now owns 655,740 shares of the oil and gas company’s stock worth $16,623,000 after buying an additional 537,017 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Oil States International by 209.7% during the second quarter. New York State Common Retirement Fund now owns 678,765 shares of the oil and gas company’s stock worth $18,428,000 after buying an additional 459,598 shares during the last quarter. Hancock Holding Co. acquired a new position in Oil States International during the second quarter worth $6,944,000. Finally, Van ECK Associates Corp boosted its stake in Oil States International by 18.1% during 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 buying an additional 83,781 shares during the last quarter.
About Oil States International
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Oil States International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oil States International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.