Oil States International (NYSE:OIS) Lowered to “Market Perform” at Wells Fargo & Co

Oil States International (NYSE:OIS) was downgraded by investment analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, The Fly reports.

Other equities research analysts also recently issued reports about the stock. Raymond James lowered their target price on shares of Oil States International from $25.00 to $23.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 30th. Zacks Investment Research downgraded shares of Oil States International from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lowered their target price on shares of Oil States International to $23.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 30th. ValuEngine raised shares of Oil States International from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Piper Jaffray Companies set a $16.00 target price on shares of Oil States International and gave the company a “hold” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.91.

Shares of Oil States International stock opened at $15.68 on Thursday. Oil States International has a 12-month low of $11.73 and a 12-month high of $34.66. The company has a market cap of $947.59 million, a price-to-earnings ratio of -130.67 and a beta of 2.26. The company has a current ratio of 2.67, a quick ratio of 1.57 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $13.90 and its 200-day moving average price is $16.33.

Oil States International (NYSE:OIS) last announced its quarterly earnings results on Monday, July 29th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $264.70 million during the quarter, compared to analysts’ expectations of $273.73 million. Oil States International had a negative return on equity of 2.29% and a negative net margin of 4.02%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. On average, sell-side analysts predict that Oil States International will post -0.51 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC bought a new position in shares of Oil States International in the second quarter worth approximately $35,000. Elkfork Partners LLC bought a new position in shares of Oil States International in the fourth quarter worth approximately $108,000. Lindbrook Capital LLC bought a new position in shares of Oil States International in the fourth quarter worth approximately $44,000. Meadow Creek Investment Management LLC grew its holdings in shares of Oil States International by 3.0% in the first quarter. Meadow Creek Investment Management LLC now owns 3,468 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 102 shares during the last quarter. Finally, LS Investment Advisors LLC grew its holdings in shares of 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 worth $111,000 after purchasing an additional 612 shares during the last quarter.

Oil States International Company Profile

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

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