Oil States International (NYSE:OIS) Sets New 52-Week High – Time to Buy?

Shares of Oil States International, Inc. (NYSE:OIS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.90 and last traded at $8.8950, with a volume of 1084682 shares trading hands. The stock had previously closed at $8.48.

Analyst Upgrades and Downgrades

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

Oil States International Price Performance

The company has a market capitalization of $544.92 million, a price-to-earnings ratio of 24.65 and a beta of 1.30. The firm has a fifty day simple moving average of $7.50 and a 200 day simple moving average of $6.40.

Insider Activity

In other news, CEO Cindy B. Taylor sold 14,760 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $6.75, for a total transaction 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. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oil States International

Institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new stake in Oil States International during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Oil States International by 221.9% in the second quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 4,740 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Oil States International by 98.8% during the third quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 5,779 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Oil States International in the 2nd quarter valued at $84,000. Finally, SG Americas Securities LLC lifted its holdings in Oil States International by 71.5% in the 3rd quarter. SG Americas Securities LLC now owns 18,814 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 7,845 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

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.