Oil States International (NYSE:OIS) Trading Up 7.1% – What’s Next?

Oil States International, Inc. (NYSE:OIS)’s stock price rose 7.1% on Monday . The company traded as high as $8.63 and last traded at $8.7160. 119,789 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 936,519 shares. The stock had previously closed at $8.14.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OIS. Susquehanna cut their target price on shares of Oil States International from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th. Stifel Nicolaus lowered their price target on shares of Oil States International from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Raymond James Financial dropped their price objective on shares of Oil States International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Oil States International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen lowered shares of Oil States International from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.33.

Oil States International Trading Up 6.9%

The firm has a market capitalization of $525.11 million, a PE ratio of -4.60 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 2.35 and a debt-to-equity ratio of 0.03. The company’s 50-day simple moving average is $8.20 and its 200 day simple moving average is $9.69.

Oil States International (NYSE:OIS) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $255.41 million for the quarter, compared to the consensus estimate of $158.02 million. Oil States International had a negative net margin of 16.78% and a positive return on equity of 4.28%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, sell-side analysts expect that Oil States International, Inc. will post 0.53 EPS for the current year.

Hedge Funds Weigh In On Oil States International

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Oil States International by 221.9% during the 2nd 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. Marshall Wace LLP acquired a new position in Oil States International during the 2nd quarter valued at about $505,000. NewEdge Advisors LLC purchased a new stake in Oil States International in the second quarter valued at about $84,000. Ameriprise Financial Inc. raised its stake in 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 buying an additional 334,279 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in 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 in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.