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

Shares of Oil States International, Inc. (NYSE:OIS) gapped down before the market opened on Tuesday . The stock had previously closed at $12.66, but opened at $12.00. Oil States International shares last traded at $12.0470, with a volume of 280,988 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on OIS. Stifel Nicolaus boosted their price objective on Oil States International from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Oil States International in a research note on Thursday, January 22nd. Raymond James Financial reissued an “outperform” rating and issued a $14.00 price target on shares of Oil States International in a research report on Monday, February 23rd. Susquehanna raised their price objective on shares of Oil States International from $8.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Finally, Wall Street Zen upgraded shares of Oil States International from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Oil States International Stock Down 4.3%

The stock has a market capitalization of $729.14 million, a P/E ratio of -6.36 and a beta of 1.16. The company has a 50-day moving average price of $10.46 and a two-hundred day moving average price of $7.83.

Oil States International (NYSE:OIS) last issued its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $178.46 million during the quarter, compared to analysts’ expectations of $178.92 million. Oil States International had a negative net margin of 16.35% and a positive return on equity of 3.27%. Oil States International’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. On average, sell-side analysts expect that Oil States International, Inc. will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OIS. EverSource Wealth Advisors LLC raised its position in shares of Oil States International by 221.9% in the second quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company’s stock worth $37,000 after buying an additional 4,740 shares in the last quarter. BNP Paribas Financial Markets increased its stake in 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 worth $70,000 after acquiring an additional 5,779 shares during the last quarter. NewEdge Advisors LLC bought a new position in Oil States International in the 2nd quarter worth about $84,000. Captrust Financial Advisors raised its holdings 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 acquiring an additional 2,332 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Oil States International by 71.5% during 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 acquiring an additional 7,845 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

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.