First Manhattan Co. Increases Holdings in Oil States International, Inc. (OIS)
First Manhattan Co. raised its position in Oil States International, Inc. (NYSE:OIS) by 57.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 22,000 shares of the oil and gas company’s stock after purchasing an additional 8,000 shares during the period. First Manhattan Co.’s holdings in Oil States International were worth $557,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Earnest Partners LLC acquired a new stake in shares of Oil States International in the 2nd quarter worth $53,922,000. New York State Common Retirement Fund increased its stake in shares of Oil States International by 209.7% in the 2nd quarter. New York State Common Retirement Fund now owns 678,765 shares of the oil and gas company’s stock worth $18,428,000 after acquiring an additional 459,598 shares during the last quarter. Hancock Holding Co. acquired a new stake in shares of Oil States International in the 2nd quarter worth $6,944,000. Rice Hall James & Associates LLC acquired a new stake in shares of Oil States International in the 2nd quarter worth $3,223,000. Finally, Nikko Asset Management Americas Inc. increased its stake in shares of Oil States International by 22.9% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 387,400 shares of the oil and gas company’s stock worth $10,518,000 after acquiring an additional 72,100 shares during the last quarter.
Shares of Oil States International, Inc. (NYSE OIS) opened at $23.20 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.60 and a current ratio of 4.09.
Oil States International (NYSE:OIS) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The business had revenue of $164.00 million for the quarter, compared to analyst estimates of $166.94 million. Oil States International had a negative return on equity of 4.62% and a negative net margin of 8.77%. Oil States International’s revenue for the quarter was down 8.4% on a year-over-year basis. equities analysts anticipate that Oil States International, Inc. will post -1.06 EPS for the current year.
A number of analysts have issued reports on OIS shares. Deutsche Bank AG started coverage on Oil States International in a research note on Tuesday, October 10th. They issued a “hold” rating and a $26.00 target price for the company. BMO Capital Markets cut their target price on Oil States International from $33.00 to $27.00 and set a “market perform” rating for the company in a research note on Friday, July 14th. Zacks Investment Research raised Oil States International from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Wells Fargo & Company downgraded Oil States International from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a research note on Friday, July 7th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $30.00 target price on shares of Oil States International in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.18.
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Oil States International 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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