Oil States International (NYSE:OIS) Shares Up 13% on Better-Than-Expected Earnings

Oil States International, Inc. (NYSE:OIS)’s share price traded up 13% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $11.29 and last traded at $11.30. 276,581 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 892,352 shares. The stock had previously closed at $10.00.

The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $178.46 million during the quarter, compared to analyst estimates of $178.92 million. Oil States International had a return on equity of 2.85% and a net margin of 3.52%.The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share.

Analyst Ratings Changes

A number of research firms have issued reports on OIS. Susquehanna raised their target price on Oil States International from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Oil States International in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Oil States International from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Oil States International has an average rating of “Hold” and a consensus target price of $8.00.

Insider Activity

In related news, CEO Cindy B. Taylor sold 14,760 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $6.75, for a total value of $99,630.00. Following the completion of the sale, the chief executive officer owned 2,109,724 shares of the company’s stock, valued at $14,240,637. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Oil States International

Several institutional investors have recently modified their holdings of OIS. New York State Teachers Retirement System bought a new stake in shares of Oil States International in the second quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its position in Oil States International by 221.9% during the second quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 4,740 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Oil States International by 98.8% in the third quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company’s stock valued at $70,000 after acquiring an additional 5,779 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Oil States International by 19.5% in the fourth quarter. Captrust Financial Advisors now owns 14,262 shares of the oil and gas company’s stock valued at $97,000 after purchasing an additional 2,332 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of Oil States International during the 2nd quarter worth about $84,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Oil States International Stock Performance

The firm has a market cap of $667.41 million, a P/E ratio of 30.31 and a beta of 1.30. The firm’s fifty day moving average is $8.02 and its 200 day moving average is $6.67.

About Oil States International

Oil States International, Inc is a Houston-based provider of products and services to the global oil and gas industry. Through its well site solutions and flat steel solutions segments, the company supplies critical equipment and consumables used in drilling, completion and production operations. Its well site offerings include a broad range of rental products—such as coiled tubing, frac iron, pressure control equipment and downhole tool rentals—designed to support drilling rigs and well completion crews.

In addition to rental and service offerings, Oil States International’s flat steel solutions business manufactures and distributes steel pipeline and flowback products.