Susquehanna Lowers Oil States International (NYSE:OIS) Price Target to $11.00

Oil States International (NYSE:OIS) had its target price cut by Susquehanna from $13.00 to $11.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price objective indicates a potential upside of 19.98% from the stock’s current price.

A number of other analysts have also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Oil States International in a research report on Tuesday, April 21st. Wall Street Zen upgraded Oil States International from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Raymond James Financial restated an “outperform” rating and issued a $14.00 price target on shares of Oil States International in a research report on Monday, February 23rd. Finally, Stifel Nicolaus upped their price target on Oil States International from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Oil States International has an average rating of “Moderate Buy” and an average price target of $13.33.

Oil States International Price Performance

Oil States International stock traded down $0.46 during mid-day trading on Wednesday, reaching $9.17. 306,145 shares of the stock traded hands, compared to its average volume of 1,038,549. The stock has a market capitalization of $551.91 million, a PE ratio of -4.77 and a beta of 1.20. Oil States International has a 12-month low of $4.17 and a 12-month high of $14.50. The business’s 50-day moving average is $11.81 and its 200-day moving average is $8.91.

Oil States International (NYSE:OIS) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $145.36 million during the quarter, compared to analysts’ expectations of $153.79 million. Oil States International had a positive return on equity of 3.27% and a negative net margin of 16.35%.Oil States International’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. Equities analysts anticipate that Oil States International will post 0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Oil States International

A number of hedge funds have recently made changes to their positions in OIS. Ameriprise Financial Inc. boosted its stake in shares of Oil States International by 157.0% in the second quarter. Ameriprise Financial Inc. now owns 547,191 shares of the oil and gas company’s stock worth $2,933,000 after acquiring an additional 334,279 shares during the period. LSV Asset Management bought a new position in shares of Oil States International in the third quarter worth about $1,094,000. Russell Investments Group Ltd. boosted its stake in shares of Oil States International by 121.3% in the third quarter. Russell Investments Group Ltd. now owns 287,663 shares of the oil and gas company’s stock worth $1,743,000 after acquiring an additional 157,688 shares during the period. Kennedy Capital Management LLC boosted its stake in shares of Oil States International by 8.5% in the fourth quarter. Kennedy Capital Management LLC now owns 1,452,534 shares of the oil and gas company’s stock worth $9,834,000 after acquiring an additional 113,541 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Oil States International in the second quarter worth about $505,000. Institutional investors own 97.44% of the company’s stock.

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.