Oil States International (OIS) Rating Lowered to Hold at ValuEngine

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ValuEngine lowered shares of Oil States International (NYSE:OIS) from a buy rating to a hold rating in a research note published on Friday.

A number of other research firms also recently weighed in on OIS. Morgan Stanley initiated coverage on shares of Oil States International in a research report on Tuesday, September 18th. They set an equal weight rating and a $35.00 price target for the company. SunTrust Banks reissued a hold rating and set a $35.00 price target on shares of Oil States International in a research report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Oil States International from a buy rating to a hold rating in a research report on Saturday, July 7th. Credit Suisse Group raised their price target on shares of Oil States International from $33.00 to $37.00 and gave the stock a neutral rating in a research report on Tuesday, July 31st. Finally, Cowen decreased their price target on shares of Oil States International from $36.00 to $33.00 and set a market perform rating for the company in a research report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $33.38.

NYSE:OIS traded up $0.10 during trading hours on Friday, hitting $29.46. The stock had a trading volume of 623,422 shares, compared to its average volume of 757,030. The company has a quick ratio of 2.39, a current ratio of 3.83 and a debt-to-equity ratio of 0.24. Oil States International has a 1-year low of $20.23 and a 1-year high of $38.95. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -27.79, a price-to-earnings-growth ratio of 13.66 and a beta of 1.59.

Oil States International (NYSE:OIS) last released its quarterly earnings results on Monday, July 30th. The oil and gas company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. Oil States International had a negative net margin of 6.05% and a negative return on equity of 1.59%. The business had revenue of $285.90 million during the quarter, compared to the consensus estimate of $289.39 million. During the same quarter last year, the company earned ($0.27) earnings per share. The business’s quarterly revenue was up 66.8% compared to the same quarter last year. On average, equities analysts anticipate that Oil States International will post 0.12 earnings per share for the current year.

In related news, VP Brian E. Taylor sold 2,380 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $34.05, for a total transaction of $81,039.00. Following the transaction, the vice president now directly owns 17,082 shares in the company, valued at $581,642.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.87% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in OIS. BlackRock Inc. lifted its stake in Oil States International by 11.3% during the first quarter. BlackRock Inc. now owns 7,630,892 shares of the oil and gas company’s stock worth $199,930,000 after purchasing an additional 777,021 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Oil States International by 22.5% in the first quarter. Principal Financial Group Inc. now owns 468,186 shares of the oil and gas company’s stock valued at $12,266,000 after buying an additional 85,882 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Oil States International by 32.4% in the second quarter. Eagle Asset Management Inc. now owns 284,000 shares of the oil and gas company’s stock valued at $9,116,000 after buying an additional 69,563 shares during the last quarter. Energy Opportunities Capital Management LLC lifted its stake in Oil States International by 41.9% in the second quarter. Energy Opportunities Capital Management LLC now owns 215,271 shares of the oil and gas company’s stock valued at $6,910,000 after buying an additional 63,550 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Oil States International by 77.0% in the first quarter. JPMorgan Chase & Co. now owns 77,993 shares of the oil and gas company’s stock valued at $2,043,000 after buying an additional 33,924 shares during the last quarter.

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 through three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products.

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Analyst Recommendations for Oil States International (NYSE:OIS)

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