Oil States International (NYSE:OIS) Shares Gap Down – Here’s What Happened

Shares of Oil States International, Inc. (NYSE:OIS) gapped down before the market opened on Tuesday . The stock had previously closed at $12.66, but opened at $12.00. Oil States International shares last traded at $12.0470, with a volume of 280,988 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on OIS. Susquehanna boosted their price target on shares of Oil States International from $8.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded Oil States International from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Raymond James Financial reissued an “outperform” rating and issued a $14.00 target price on shares of Oil States International in a research note on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Oil States International in a report on Thursday, January 22nd. Finally, Stifel Nicolaus raised their price target on Oil States International from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Oil States International Trading Up 0.9%

The firm has a market capitalization of $722.23 million, a P/E ratio of -6.28 and a beta of 1.17. The company’s fifty day simple moving average is $10.61 and its 200 day simple moving average is $7.91.

Oil States International (NYSE:OIS) last announced its earnings results 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 firm had revenue of $178.46 million for the quarter, compared to analysts’ expectations of $178.92 million. Oil States International had a negative net margin of 16.35% and a positive return on equity of 3.27%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. On average, analysts predict that Oil States International, Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oil States International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors increased its stake in shares of Oil States International by 19.5% during the fourth quarter. Captrust Financial Advisors now owns 14,262 shares of the oil and gas company’s stock valued at $97,000 after purchasing an additional 2,332 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Oil States International by 20.5% in the 3rd quarter. NewEdge Advisors LLC now owns 18,961 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 3,222 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 buying an additional 4,740 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Oil States International by 1.7% in the 4th quarter. Russell Investments Group Ltd. now owns 292,652 shares of the oil and gas company’s stock worth $1,981,000 after buying an additional 4,989 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Oil States International by 98.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 5,779 shares in the last quarter. 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.