Oil States International (NYSE:OIS) Trading Up 7.1% – Still a Buy?

Oil States International, Inc. (NYSE:OIS) shares shot up 7.1% during mid-day trading on Monday . The stock traded as high as $8.63 and last traded at $8.7160. Approximately 119,789 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 936,519 shares. The stock had previously closed at $8.14.

Analyst Upgrades and Downgrades

OIS has been the subject of several recent analyst reports. Weiss Ratings lowered shares of Oil States International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 11th. Susquehanna reduced their price target on Oil States International from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th. Stifel Nicolaus lowered their price objective on Oil States International from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Wall Street Zen downgraded Oil States International from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Raymond James Financial decreased their price target on Oil States International from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Two investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.33.

Oil States International Price Performance

The firm has a 50-day simple moving average of $8.22 and a two-hundred day simple moving average of $9.70. The company has a market capitalization of $533.53 million, a price-to-earnings ratio of -4.68 and a beta of 1.11. The company has a current ratio of 2.35, a quick ratio of 1.29 and a debt-to-equity ratio of 0.03.

Oil States International (NYSE:OIS) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Oil States International had a positive return on equity of 4.28% and a negative net margin of 16.78%.The company had revenue of $255.41 million during the quarter, compared to the consensus estimate of $158.02 million. During the same period in the previous year, the company posted $0.09 earnings per share. Oil States International’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, analysts predict that Oil States International, Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OIS. Pacer Advisors Inc. acquired a new position in shares of Oil States International during the first quarter valued at approximately $2,839,000. Kennedy Capital Management LLC lifted its position in shares of Oil States International by 8.5% in the fourth quarter. Kennedy Capital Management LLC now owns 1,452,534 shares of the oil and gas company’s stock valued at $9,834,000 after acquiring an additional 113,541 shares in the last quarter. JB Capital Partners LP acquired a new stake in shares of Oil States International in the fourth quarter worth approximately $575,000. Bank of New York Mellon Corp acquired a new stake in shares of Oil States International in the second quarter worth approximately $2,637,000. Finally, USA Financial Formulas purchased a new stake in shares of Oil States International during the first quarter worth approximately $50,000. Institutional investors and hedge funds 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.