Oil States International (NYSE:OIS) Reaches New 12-Month High – Here’s What Happened

Oil States International, Inc. (NYSE:OIS)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $8.88 and last traded at $8.4480, with a volume of 272242 shares trading hands. The stock had previously closed at $8.39.

Analysts Set New Price Targets

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

Oil States International Stock Performance

The stock has a market cap of $510.56 million, a price-to-earnings ratio of 23.09 and a beta of 1.27. The company has a 50-day moving average of $7.20 and a 200-day moving average of $6.27.

Oil States International (NYSE:OIS) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Oil States International had a return on equity of 2.85% and a net margin of 3.52%.The firm had revenue of $165.18 million for the quarter, compared to analysts’ expectations of $169.01 million. During the same period in the prior year, the company earned $0.04 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Oil States International, Inc. will post 0.16 EPS for the current year.

Insider Activity

In other news, CEO Cindy B. Taylor sold 14,760 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $6.75, for a total transaction of $99,630.00. Following the sale, the chief executive officer owned 2,109,724 shares of the company’s stock, valued at $14,240,637. The trade was a 0.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Trading of Oil States International

Several institutional investors and hedge funds have recently modified their holdings of OIS. Hillsdale Investment Management Inc. raised its position in shares of Oil States International by 46.6% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 1,174,300 shares of the oil and gas company’s stock worth $6,294,000 after purchasing an additional 373,500 shares during the last quarter. Ameriprise Financial Inc. lifted its position 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 valued at $2,933,000 after acquiring an additional 334,279 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in shares of Oil States International by 454.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 252,171 shares of the oil and gas company’s stock valued at $1,352,000 after acquiring an additional 206,678 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Oil States International during the third quarter valued at $1,094,000. Finally, Russell Investments Group Ltd. increased its position in Oil States International by 121.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 287,663 shares of the oil and gas company’s stock worth $1,743,000 after purchasing an additional 157,688 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Oil States International Company Profile

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.