Wells Fargo & Co Downgrades Oil States International (NYSE:OIS) to Market Perform

Wells Fargo & Co lowered shares of Oil States International (NYSE:OIS) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, The Fly reports.

A number of other research analysts have also recently issued reports on the company. Royal Bank of Canada cut their price target on Oil States International to $23.00 and set a sector perform rating for the company in a report on Tuesday, July 30th. ValuEngine raised Oil States International from a sell rating to a hold rating in a report on Thursday, August 1st. Piper Jaffray Companies set a $16.00 price target on Oil States International and gave the company a hold rating in a report on Wednesday, June 26th. Raymond James cut their price target on Oil States International from $25.00 to $23.00 and set a strong-buy rating for the company in a report on Tuesday, July 30th. Finally, Zacks Investment Research cut Oil States International from a hold rating to a sell rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Oil States International currently has a consensus rating of Hold and a consensus price target of $22.91.

Shares of NYSE:OIS traded up $0.65 on Thursday, hitting $15.46. The stock had a trading volume of 23,474 shares, compared to its average volume of 489,249. Oil States International has a twelve month low of $11.73 and a twelve month high of $34.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.57 and a current ratio of 2.67. The firm’s 50 day moving average price is $13.90 and its 200-day moving average price is $16.33. The company has a market capitalization of $947.55 million, a price-to-earnings ratio of -128.92 and a beta of 2.26.

Oil States International (NYSE:OIS) last issued its earnings results on Monday, July 29th. The oil and gas company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.03). Oil States International had a negative net margin of 4.02% and a negative return on equity of 2.29%. The firm had revenue of $264.70 million during the quarter, compared to analyst estimates of $273.73 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, sell-side analysts predict that Oil States International will post -0.51 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in OIS. Comerica Bank raised its holdings in shares of Oil States International by 12.5% in the first quarter. Comerica Bank now owns 202,606 shares of the oil and gas company’s stock valued at $3,728,000 after buying an additional 22,480 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of Oil States International by 4.3% in the first quarter. Mason Street Advisors LLC now owns 19,429 shares of the oil and gas company’s stock valued at $330,000 after buying an additional 802 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Oil States International in the first quarter valued at about $6,046,000. Piedmont Investment Advisors Inc. raised its holdings in Oil States International by 5.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 15,112 shares of the oil and gas company’s stock worth $256,000 after purchasing an additional 845 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Oil States International during the 1st quarter worth about $2,257,000.

About Oil States International

Oil States International, Inc, through its subsidiaries, provides oilfield products and services for the drilling, completion, subsea, production, and infrastructure sectors of the oil and gas industry worldwide. The company operates in three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products.

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