Capital One Financial Equities Analysts Cut Earnings Estimates for Oil States International, Inc. (OIS)
Oil States International, Inc. (NYSE:OIS) – Investment analysts at Capital One Financial dropped their Q3 2018 earnings estimates for shares of Oil States International in a report released on Thursday, October 18th. Capital One Financial analyst L. Lemoine now anticipates that the oil and gas company will earn ($0.02) per share for the quarter, down from their prior forecast of $0.05. Capital One Financial also issued estimates for Oil States International’s Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.01) EPS, Q1 2019 earnings at $0.01 EPS and FY2019 earnings at $0.47 EPS.
Several other research firms also recently weighed in on OIS. Morgan Stanley initiated coverage on Oil States International in a research report on Tuesday, September 18th. They set an “equal weight” rating and a $35.00 target price for the company. SunTrust Banks reiterated a “hold” rating and set a $35.00 target price on shares of Oil States International in a research report on Wednesday, August 1st. ValuEngine downgraded Oil States International from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Zacks Investment Research downgraded Oil States International from a “buy” rating to a “hold” rating in a research report on Saturday, July 7th. Finally, Credit Suisse Group lifted their target price on Oil States International from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $32.75.
Oil States International (NYSE:OIS) last released its earnings results on Monday, July 30th. The oil and gas company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Oil States International had a negative return on equity of 1.59% and a negative net margin of 6.05%. The business had revenue of $285.90 million during the quarter, compared to the consensus estimate of $289.39 million. During the same period last year, the company earned ($0.27) earnings per share. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in OIS. JPMorgan Chase & Co. raised its holdings in shares of Oil States International by 77.0% in the first quarter. JPMorgan Chase & Co. now owns 77,993 shares of the oil and gas company’s stock valued at $2,043,000 after acquiring an additional 33,924 shares in the last quarter. Sei Investments Co. raised its holdings in Oil States International by 51.7% in the first quarter. Sei Investments Co. now owns 5,496 shares of the oil and gas company’s stock worth $144,000 after purchasing an additional 1,873 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Oil States International by 22.5% in the first quarter. Principal Financial Group Inc. now owns 468,186 shares of the oil and gas company’s stock worth $12,266,000 after purchasing an additional 85,882 shares in the last quarter. Profund Advisors LLC raised its holdings in Oil States International by 28.7% in the first quarter. Profund Advisors LLC now owns 10,428 shares of the oil and gas company’s stock worth $273,000 after purchasing an additional 2,328 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in Oil States International in the first quarter worth about $859,000.
In related news, VP Brian E. Taylor sold 2,380 shares of Oil States International stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $34.05, for a total value of $81,039.00. Following the completion of the sale, the vice president now directly owns 17,082 shares in the company, valued at $581,642.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.97% of the company’s stock.
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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