Oil States International (NYSE:OIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $35.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 7.36% from the stock’s current price.
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. “
A number of other brokerages also recently commented on OIS. Wells Fargo upgraded Oil States International from a “market perform” rating to an “outperform” rating in a research note on Friday, January 12th. ValuEngine upgraded Oil States International from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Cowen set a $25.00 target price on Oil States International and gave the company a “hold” rating in a research note on Friday, April 13th. Royal Bank of Canada set a $29.00 target price on Oil States International and gave the company a “hold” rating in a research note on Thursday, December 21st. Finally, Piper Jaffray set a $22.00 price target on Oil States International and gave the stock a “hold” rating in a research report on Saturday, February 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Oil States International currently has an average rating of “Hold” and an average target price of $29.73.
Shares of NYSE OIS opened at $32.60 on Thursday. Oil States International has a one year low of $20.23 and a one year high of $34.72. The stock has a market capitalization of $1,860.46, a price-to-earnings ratio of -30.75 and a beta of 1.75.
Oil States International (NYSE:OIS) last issued its earnings results on Wednesday, February 14th. The oil and gas company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. Oil States International had a negative return on equity of 4.57% and a negative net margin of 12.65%. The firm had revenue of $183.70 million for the quarter, compared to the consensus estimate of $175.66 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. equities research analysts forecast that Oil States International will post -0.2 EPS for the current fiscal year.
In other Oil States International news, major shareholder Holdings B.V. Hcperf sold 5,925,050 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $25.79, for a total value of $152,807,039.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.97% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of OIS. Ameriprise Financial Inc. lifted its position in shares of Oil States International by 35.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 210,216 shares of the oil and gas company’s stock worth $5,329,000 after purchasing an additional 54,770 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Oil States International by 9.0% during the 3rd quarter. California Public Employees Retirement System now owns 163,219 shares of the oil and gas company’s stock worth $4,138,000 after purchasing an additional 13,419 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Oil States International by 130.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,263 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 10,902 shares during the last quarter. Leavell Investment Management Inc. acquired a new position in shares of Oil States International during the 4th quarter worth about $226,000. Finally, Wasatch Advisors Inc. acquired a new position in shares of Oil States International during the 4th quarter worth about $7,588,000. 97.37% of the stock is owned by institutional investors and hedge funds.
About Oil States International
Oil States International, Inc, through its subsidiaries, provides specialty products and services to oil and gas companies worldwide. It operates through two segments, Well Site Services and Offshore/Manufactured Products. The Well Site Services segment offers a range of equipment and services that are used to drill for, establish, and maintain the flow of oil and natural gas from a well throughout its lifecycle.
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