Oil States International Inc. (OIS) Lowered to “Sell” at Zacks Investment Research
Oil States International Inc. (NYSE:OIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Oil States International, Inc. is a diversified oilfield services company. With locations around the world, Oil States is a leading manufacturer of products for deepwater production facilities and subsea pipelines, and a leading supplier of a broad range of services to the oil and gas industry, including production-related rental tools, work force accommodations and logistics, oil country tubular goods distribution and land drilling services. Oil States is organized in three business segments Offshore Products, Tubular Services and Well Site Services. “
OIS has been the subject of a number of other research reports. Morgan Stanley began coverage on shares of Oil States International in a research note on Wednesday, August 10th. They set an “equal weight” rating and a $40.00 target price for the company. Evercore ISI upgraded shares of Oil States International from a “hold” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $37.00 in a research note on Wednesday, June 29th. Scotiabank upgraded shares of Oil States International from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $34.00 to $45.00 in a research note on Wednesday, June 22nd. Simmons reiterated an “overweight” rating and set a $32.00 target price (down previously from $38.00) on shares of Oil States International in a research note on Sunday, July 31st. Finally, Howard Weil upgraded shares of Oil States International from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $34.00 to $45.00 in a research note on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $35.94.
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Oil States International (NYSE:OIS) opened at 32.12 on Wednesday. The stock’s market cap is $1.65 billion. Oil States International has a 52 week low of $21.44 and a 52 week high of $36.73. The company has a 50-day moving average price of $30.44 and a 200-day moving average price of $31.66.
Oil States International (NYSE:OIS) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. Oil States International had a negative return on equity of 0.92% and a negative net margin of 2.63%. The business had revenue of $175.80 million for the quarter, compared to analyst estimates of $174.41 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s revenue was down 34.7% on a year-over-year basis. Equities research analysts anticipate that Oil States International will post ($0.95) EPS for the current year.
Several institutional investors have recently modified their holdings of OIS. LS Investment Advisors LLC boosted its position in shares of Oil States International by 75.2% in the second quarter. LS Investment Advisors LLC now owns 3,034 shares of the company’s stock valued at $100,000 after buying an additional 1,302 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Oil States International during the second quarter valued at $161,000. Amalgamated Bank acquired a new position in shares of Oil States International during the second quarter valued at $202,000. Public Employees Retirement System of Ohio boosted its position in shares of Oil States International by 15.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,511 shares of the company’s stock valued at $214,000 after buying an additional 883 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new position in shares of Oil States International during the third quarter valued at $324,000.
Oil States International Company Profile
Oil States International, Inc, through its subsidiaries, is a provider of specialty products and services to oil and natural gas companies throughout the world. The Company’s segments include offshore products and well site services. It designs and manufactures a number of products for the offshore energy industry through Offshore Products segments.
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