Zacks Investment Research Downgrades Oil States International, Inc. (OIS) to Sell
Oil States International, Inc. (NYSE:OIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
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. “
Several other equities analysts have also recently weighed in on the company. BMO Capital Markets reduced their price target on Oil States International from $33.00 to $27.00 and set a “market perform” rating for the company in a research report on Friday, July 14th. Cowen and Company reiterated a “hold” rating and issued a $30.00 price target on shares of Oil States International in a research report on Tuesday, July 11th. Wells Fargo & Company cut Oil States International from an “outperform” rating to a “market perform” rating and set a $33.00 price target for the company. in a research report on Friday, July 7th. Loop Capital reiterated a “buy” rating on shares of Oil States International in a research report on Monday, July 3rd. Finally, BidaskClub upgraded Oil States International from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $36.75.
Shares of Oil States International (NYSE OIS) traded down 4.50% on Thursday, reaching $26.55. The company’s stock had a trading volume of 823,739 shares. Oil States International has a 52-week low of $25.25 and a 52-week high of $41.75. The stock’s market cap is $1.37 billion. The firm’s 50 day moving average is $27.60 and its 200-day moving average is $32.59.
Oil States International (NYSE:OIS) last announced its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The company had revenue of $151.50 million during the quarter, compared to analysts’ expectations of $155.75 million. Oil States International had a negative net margin of 7.52% and a negative return on equity of 3.94%. Oil States International’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. On average, equities research analysts forecast that Oil States International will post ($0.79) EPS for the current year.
A number of institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in Oil States International by 41.4% in the second quarter. Aperio Group LLC now owns 54,974 shares of the oil and gas company’s stock valued at $1,493,000 after buying an additional 16,085 shares during the last quarter. LS Investment Advisors LLC boosted its position in Oil States International by 17.5% in the second quarter. LS Investment Advisors LLC now owns 4,106 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 612 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Oil States International by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,744 shares of the oil and gas company’s stock valued at $509,000 after buying an additional 791 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Oil States International by 2.9% in the second quarter. Meeder Asset Management Inc. now owns 20,315 shares of the oil and gas company’s stock valued at $551,000 after buying an additional 565 shares during the last quarter. Finally, Integrated Investment Consultants LLC acquired a new position in Oil States International during the second quarter valued at approximately $159,000.
Oil States International Company Profile
Oil States International, Inc, through its subsidiaries, provides specialty products and services to oil and natural gas related companies throughout the world. The Company operates as a technology-focused energy services company. The Company operates through two segments: Offshore Products and Well Site Services.
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