Oil States International, Inc. (NYSE:OIS) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. cut its holdings in shares of Oil States International, Inc. (NYSE:OIS) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,021 shares of the oil and gas company’s stock after selling 4,822 shares during the quarter. Nikko Asset Management Americas Inc. owned 0.14% of Oil States International worth $555,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OIS. Hennessy Advisors Inc. increased its position in shares of Oil States International by 44.0% in the 1st quarter. Hennessy Advisors Inc. now owns 485,600 shares of the oil and gas company’s stock valued at $2,991,000 after purchasing an additional 148,300 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Oil States International by 19.9% in the 4th quarter. Russell Investments Group Ltd. now owns 157,765 shares of the oil and gas company’s stock valued at $1,071,000 after purchasing an additional 26,137 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Oil States International in the 4th quarter valued at approximately $769,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Oil States International by 19.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 94,843 shares of the oil and gas company’s stock valued at $644,000 after purchasing an additional 15,340 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Oil States International in the 4th quarter valued at approximately $400,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Oil States International from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. Stifel Nicolaus dropped their target price on shares of Oil States International from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Piper Sandler dropped their target price on shares of Oil States International from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Finally, Susquehanna dropped their target price on shares of Oil States International from $6.50 to $4.50 and set a “neutral” rating on the stock in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.00.

Oil States International Stock Performance

Oil States International stock traded down $0.18 during midday trading on Tuesday, hitting $4.05. 768,866 shares of the company’s stock were exchanged, compared to its average volume of 1,230,427. Oil States International, Inc. has a 12-month low of $3.91 and a 12-month high of $9.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.83 and a current ratio of 3.31. The stock has a market cap of $260.05 million, a price-to-earnings ratio of -101.25 and a beta of 2.67. The firm’s 50 day simple moving average is $4.35 and its 200 day simple moving average is $5.39.

Oil States International (NYSE:OIS) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Oil States International had a positive return on equity of 1.62% and a negative net margin of 0.35%. The business had revenue of $167.26 million for the quarter, compared to analysts’ expectations of $190.08 million. Equities research analysts predict that Oil States International, Inc. will post 0.25 EPS for the current year.

Oil States International Company Profile

Oil States International, Inc, through its subsidiaries, provides engineered capital equipment and products for the energy, industrial, and military sectors worldwide. The company operates through three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products. The Well Site Services segment offers a range of equipment and services that are used to drill for, establish, and maintain the flow of oil and natural gas from a well throughout its lifecycle.