Oil States International (NYSE:OIS) Shares Down 6.4% – Here’s Why

Oil States International, Inc. (NYSE:OIS)’s share price fell 6.4% during trading on Tuesday . The stock traded as low as $10.01 and last traded at $10.48. 146,583 shares traded hands during trading, a decline of 86% from the average session volume of 1,030,048 shares. The stock had previously closed at $11.20.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OIS. Raymond James Financial reissued an “outperform” rating and set a $14.00 price target on shares of Oil States International in a research report on Monday, February 23rd. Susquehanna increased their target price on Oil States International from $8.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Stifel Nicolaus raised their price target on Oil States International from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Wall Street Zen raised Oil States International from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Oil States International in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Oil States International Stock Down 10.3%

The company has a 50 day moving average of $11.87 and a two-hundred day moving average of $8.89. The firm has a market cap of $604.71 million, a P/E ratio of -5.26 and a beta of 1.20.

Oil States International (NYSE:OIS) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Oil States International had a positive return on equity of 3.27% and a negative net margin of 16.35%.The business had revenue of $145.36 million during the quarter, compared to analysts’ expectations of $153.79 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was down 9.1% on a year-over-year basis. Research analysts expect that Oil States International, Inc. will post 0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 4,740 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Oil States International by 98.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 5,779 shares during the period. Captrust Financial Advisors boosted its position in shares of Oil States International by 19.5% in 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 period. NewEdge Advisors LLC acquired a new position in shares of Oil States International in the 2nd quarter valued at $84,000. Finally, SG Americas Securities LLC boosted its position in shares of Oil States International by 71.5% in the 3rd quarter. SG Americas Securities LLC now owns 18,814 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 7,845 shares during the period. Institutional investors own 97.44% of the company’s stock.

Oil States International Company Profile

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.