Oil States International (NYSE:OIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, November 10th.
According to Zacks, “Oil States International, Inc. is a diversified oilfield services company. With locations around the world, Oil States is a leading manufacturer of products for deepwater production facilities and subsea pipelines, and a leading supplier of a broad range of services to the oil and gas industry, including production-related rental tools, work force accommodations and logistics, oil country tubular goods distribution and land drilling services. Oil States is organized in three business segments Offshore Products, Tubular Services and Well Site Services. “
Several other equities analysts have also recently issued reports on the company. BMO Capital Markets decreased their price objective on Oil States International from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, November 9th. Loop Capital set a $31.00 price target on Oil States International and gave the company a “buy” rating in a research note on Wednesday, November 1st. J P Morgan Chase & Co cut their price target on Oil States International from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Cowen set a $18.00 price target on Oil States International and gave the company a “market perform” rating in a research note on Monday, October 30th. Finally, Royal Bank Of Canada set a $28.00 price objective on Oil States International and gave the stock a “hold” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $30.00.
Oil States International (NYSE:OIS) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.02). The firm had revenue of $164.00 million for the quarter, compared to analyst estimates of $166.94 million. Oil States International had a negative return on equity of 4.62% and a negative net margin of 8.77%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. equities research analysts expect that Oil States International will post -1.07 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Oil States International by 7.2% in the first quarter. Geode Capital Management LLC now owns 403,234 shares of the oil and gas company’s stock valued at $13,367,000 after acquiring an additional 27,159 shares during the last quarter. Earnest Partners LLC acquired a new position in Oil States International in the second quarter valued at approximately $53,922,000. Balyasny Asset Management LLC lifted its holdings in Oil States International by 25.0% in the second quarter. Balyasny Asset Management LLC now owns 80,850 shares of the oil and gas company’s stock valued at $2,195,000 after acquiring an additional 16,173 shares during the last quarter. Hancock Holding Co. acquired a new position in Oil States International in the second quarter valued at approximately $6,944,000. Finally, Nordea Investment Management AB lifted its holdings in Oil States International by 58.8% in the second quarter. Nordea Investment Management AB now owns 66,786 shares of the oil and gas company’s stock valued at $1,813,000 after acquiring an additional 24,736 shares during the last quarter.
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Oil States International Company Profile
Oil States International, Inc, through its subsidiaries, provides specialty products and services to oil and natural gas related companies throughout the world. The Company operates as a technology-focused energy services company. The Company operates through two segments: Offshore Products and Well Site Services.
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