Oil States International (NYSE:OIS) Trading Down 6.4% – Here’s Why

Shares of Oil States International, Inc. (NYSE:OIS) traded down 6.4% during trading on Wednesday . The stock traded as low as $13.42 and last traded at $13.47. 580,987 shares traded hands during trading, a decline of 47% from the average session volume of 1,090,049 shares. The stock had previously closed at $14.39.

Analyst Ratings Changes

Several brokerages have recently issued reports on OIS. Weiss Ratings reiterated a “hold (c)” rating on shares of Oil States International in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Oil States International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Stifel Nicolaus increased their target price on Oil States International from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday. Raymond James Financial reissued an “outperform” rating and issued a $14.00 target price on shares of Oil States International in a report on Monday. Finally, Susquehanna boosted their price target on Oil States International from $8.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Oil States International Stock Performance

The firm has a fifty day moving average price of $8.41 and a two-hundred day moving average price of $6.87. The stock has a market capitalization of $796.77 million, a P/E ratio of -7.01 and a beta of 1.30.

Oil States International (NYSE:OIS) last posted its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $178.46 million during the quarter, compared to analysts’ expectations of $178.92 million. Oil States International had a positive return on equity of 3.27% and a negative net margin of 16.35%.Oil States International’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, research analysts anticipate that Oil States International, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Cindy B. Taylor sold 14,760 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $6.75, for a total transaction of $99,630.00. Following the completion of the sale, the chief executive officer directly owned 2,109,724 shares in the company, valued at approximately $14,240,637. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OIS. EverSource Wealth Advisors LLC increased its stake in shares of Oil States International by 221.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 4,740 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Oil States International by 98.8% during the third quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 5,779 shares during the period. Captrust Financial Advisors increased its position in Oil States International by 19.5% in the fourth quarter. Captrust Financial Advisors now owns 14,262 shares of the oil and gas company’s stock worth $97,000 after buying an additional 2,332 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Oil States International in the second quarter worth about $84,000. Finally, SG Americas Securities LLC raised its stake in shares of Oil States International by 71.5% in the third quarter. SG Americas Securities LLC now owns 18,814 shares of the oil and gas company’s stock worth $114,000 after buying an additional 7,845 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Oil States International Company Profile

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.