Oil States International (NYSE:OIS) Sets New 12-Month High Following Strong Earnings

Oil States International, Inc. (NYSE:OIS)’s share price hit a new 52-week high during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $13.31 and last traded at $13.2750, with a volume of 557548 shares traded. The stock had previously closed at $12.53.

The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Oil States International had a positive return on equity of 3.27% and a negative net margin of 16.35%.The company had revenue of $178.46 million for the quarter, compared to the consensus estimate of $178.92 million. During the same quarter last year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Oil States International from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Raymond James Financial reiterated an “outperform” rating and issued a $14.00 price target on shares of Oil States International in a research note on Monday. Stifel Nicolaus increased their price objective on shares of Oil States International from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday. Susquehanna lifted their target price on Oil States International from $8.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Oil States International in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Oil States International presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Insider Buying and Selling

In other Oil States International news, CEO Cindy B. Taylor sold 14,760 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $6.75, for a total transaction of $99,630.00. Following the sale, the chief executive officer directly owned 2,109,724 shares of the company’s stock, valued at $14,240,637. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Oil States International

A number of institutional investors and hedge funds have recently modified their holdings of OIS. Captrust Financial Advisors increased its position in shares of Oil States International by 19.5% during the 4th 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 during the last quarter. NewEdge Advisors LLC boosted its stake in Oil States International by 20.5% during the third quarter. NewEdge Advisors LLC now owns 18,961 shares of the oil and gas company’s stock worth $115,000 after buying an additional 3,222 shares during the period. EverSource Wealth Advisors LLC increased its position in Oil States International by 221.9% during the second quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 4,740 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Oil States International by 1.7% in the fourth quarter. Russell Investments Group Ltd. now owns 292,652 shares of the oil and gas company’s stock valued at $1,981,000 after acquiring an additional 4,989 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Oil States International by 98.8% in the third quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company’s stock valued at $70,000 after acquiring an additional 5,779 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Oil States International Stock Performance

The company’s fifty day moving average price is $8.41 and its 200-day moving average price is $6.87. The stock has a market cap of $858.79 million, a P/E ratio of -7.53 and a beta of 1.30.

About Oil States International

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.