Oil States International (NYSE:OIS) Shares Climb 6.3% – Time to Buy?

Shares of Oil States International, Inc. (NYSE:OIS) rose 6.3% during mid-day trading on Friday. The company traded as high as $8.58 and last traded at $8.5470. 241,793 shares were traded during trading, a decline of 72% from the average daily volume of 871,854 shares. The stock had previously closed at $8.04.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OIS. Raymond James Financial decreased their price target on Oil States International from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Stifel Nicolaus decreased their price target on Oil States International from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Weiss Ratings upgraded Oil States International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Susquehanna lifted their price objective on shares of Oil States International from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Monday, October 5th. Two research 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 data from MarketBeat, Oil States International has an average rating of “Hold” and an average price target of $11.67.

Oil States International Price Performance

The business has a 50-day simple moving average of $8.45 and a 200 day simple moving average of $8.78. The firm has a market cap of $518.45 million, a P/E ratio of -4.55 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.29 and a current ratio of 2.35.

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, beating analysts’ consensus estimates of $0.11 by $0.03. Oil States International had a negative net margin of 16.78% and a positive return on equity of 4.28%. The business had revenue of $255.41 million for the quarter, compared to the consensus estimate of $158.02 million. During the same period in the previous year, the firm earned $0.09 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts anticipate that Oil States International, Inc. will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oil States International

A number of institutional investors and hedge funds have recently made changes to their positions in OIS. Assenagon Asset Management S.A. increased its stake in shares of Oil States International by 35.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 34,340 shares of the oil and gas company’s stock worth $273,000 after purchasing an additional 9,012 shares in the last quarter. GAMMA Investing LLC lifted its position in Oil States International by 64.2% during the third quarter. GAMMA Investing LLC now owns 3,178 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 1,243 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Oil States International during the second quarter valued at $58,000. Squarepoint Ops LLC grew its holdings in Oil States International by 1,228.6% during the second quarter. Squarepoint Ops LLC now owns 399,706 shares of the oil and gas company’s stock valued at $3,202,000 after purchasing an additional 369,621 shares during the period. Finally, Corient Private Wealth LP bought a new stake in Oil States International during the second quarter valued at about $97,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Oil States International Company Profile

Oil States International, Inc is an energy services and equipment company that supports oil and natural gas exploration, drilling, completion, production and infrastructure activities. The company serves operators, drilling contractors and other energy-industry customers through two primary areas: Well Site Services and Offshore/Manufactured Products.

Its Well Site Services business provides equipment and services used during the completion and production phases of a well. Offerings include completion and workover services, well testing, rental tools, frac water management and related support services.