Oil States International (NYSE:OIS) Lowered to Sell Rating by StockNews.com

Oil States International (NYSE:OIS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other brokerages also recently issued reports on OIS. Piper Sandler decreased their price target on Oil States International from $7.50 to $5.50 and set a “neutral” rating for the company in a report on Monday, July 15th. Susquehanna decreased their target price on shares of Oil States International from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Stifel Nicolaus dropped their price target on shares of Oil States International from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, October 11th.

Oil States International Stock Performance

Shares of OIS stock traded down $0.20 during trading hours on Friday, hitting $4.53. The company’s stock had a trading volume of 705,330 shares, compared to its average volume of 1,045,863. The stock has a market cap of $288.97 million, a PE ratio of -13.73 and a beta of 2.65. Oil States International has a 12-month low of $3.91 and a 12-month high of $7.84. The company has a 50 day moving average of $4.75 and a 200 day moving average of $4.67. The company has a current ratio of 3.40, a quick ratio of 1.75 and a debt-to-equity ratio of 0.18.

Oil States International (NYSE:OIS) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $174.30 million for the quarter, compared to the consensus estimate of $192.09 million. Oil States International had a positive return on equity of 1.78% and a negative net margin of 2.78%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. On average, sell-side analysts forecast that Oil States International will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Oil States International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OIS. Gendell Jeffrey L raised its position in shares of Oil States International by 8.0% during the 1st quarter. Gendell Jeffrey L now owns 2,897,405 shares of the oil and gas company’s stock worth $17,848,000 after purchasing an additional 215,274 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Oil States International by 109.0% during the 1st quarter. Russell Investments Group Ltd. now owns 329,736 shares of the oil and gas company’s stock worth $2,031,000 after buying an additional 171,971 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Oil States International by 42.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 251,807 shares of the oil and gas company’s stock worth $1,118,000 after buying an additional 74,983 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Oil States International by 524.0% during the first quarter. Quantbot Technologies LP now owns 102,380 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 85,973 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Oil States International by 23.4% in the first quarter. Public Employees Retirement System of Ohio now owns 85,287 shares of the oil and gas company’s stock worth $525,000 after acquiring an additional 16,160 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

About Oil States International

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.