Oil States International (NYSE:OIS) Shares Gap Down – What’s Next?

Oil States International, Inc. (NYSE:OIS)’s share price gapped down prior to trading on Monday. The stock had previously closed at $9.60, but opened at $9.19. Oil States International shares last traded at $9.4060, with a volume of 311,247 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on OIS. Susquehanna boosted their price target on Oil States International from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings raised Oil States International from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Stifel Nicolaus dropped their price objective on shares of Oil States International from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Raymond James Financial cut their price objective on shares of Oil States International from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Oil States International has a consensus rating of “Hold” and an average target price of $12.00.

Oil States International Stock Down 1.9%

The company has a market capitalization of $567.91 million, a PE ratio of -5.05 and a beta of 1.23. The firm’s 50-day simple moving average is $8.47 and its 200 day simple moving average is $9.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 2.36.

Oil States International (NYSE:OIS) last posted its earnings results on Friday, October 30th. The oil and gas company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Oil States International had a positive return on equity of 5.13% and a negative net margin of 16.47%. The company had revenue of $169.76 million for the quarter, compared to analyst estimates of $162.62 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. Oil States International’s revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Oil States International, Inc. will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Oil States International by 64.2% in the third quarter. GAMMA Investing LLC now owns 3,178 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,243 shares during the period. USA Financial Formulas purchased a new stake in shares of Oil States International during the 1st quarter valued at about $50,000. Integrated Wealth Concepts LLC acquired a new position in Oil States International during the 2nd quarter worth approximately $58,000. Corient Private Wealth LP acquired a new position in Oil States International during the 2nd quarter worth approximately $97,000. Finally, EverSource Wealth Advisors LLC lifted its position in Oil States International by 19.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,248 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 1,502 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

Oil States International Company Profile

Oil States International, Inc is an energy services and equipment company that supports oil and natural gas exploration, drilling, completion, production and infrastructure activities. The company serves operators, drilling contractors and other energy-industry customers through two primary areas: Well Site Services and Offshore/Manufactured Products.

Its Well Site Services business provides equipment and services used during the completion and production phases of a well. Offerings include completion and workover services, well testing, rental tools, frac water management and related support services.