Oil States International (NYSE:OIS) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Oil States International (NYSE:OIS) from a sell rating to a hold rating in a research note released on Thursday morning, ValuEngine reports.

Several other equities research analysts have also recently issued reports on OIS. Royal Bank of Canada cut their price objective on shares of Oil States International to $23.00 and set a sector perform rating for the company in a research report on Tuesday, July 30th. Cowen restated a market perform rating and set a $21.00 price objective (up from $18.00) on shares of Oil States International in a research report on Monday, May 6th. Zacks Investment Research cut shares of Oil States International from a hold rating to a sell rating in a research report on Wednesday, July 31st. Piper Jaffray Companies set a $16.00 price objective on shares of Oil States International and gave the stock a hold rating in a research report on Wednesday, June 26th. Finally, Raymond James cut their price objective on shares of Oil States International from $25.00 to $23.00 and set a strong-buy rating for the company in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Oil States International currently has a consensus rating of Hold and a consensus price target of $24.62.

Shares of NYSE:OIS traded down $0.70 during midday trading on Thursday, hitting $13.46. The company’s stock had a trading volume of 24,459 shares, compared to its average volume of 850,448. The business’s 50 day moving average is $15.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.68 and a current ratio of 2.67. The stock has a market cap of $820.52 million, a P/E ratio of -112.17 and a beta of 2.26. Oil States International has a 12-month low of $11.73 and a 12-month high of $34.66.

Oil States International (NYSE:OIS) last posted its quarterly earnings results on Monday, July 29th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.03). The business had revenue of $264.70 million during the quarter, compared to analysts’ expectations of $273.73 million. Oil States International had a negative return on equity of 2.29% and a negative net margin of 4.02%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. Sell-side analysts forecast that Oil States International will post -0.49 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in OIS. Norges Bank acquired a new stake in shares of Oil States International during the fourth quarter valued at about $10,792,000. SG Americas Securities LLC grew its holdings in shares of Oil States International by 269.1% in the first quarter. SG Americas Securities LLC now owns 494,160 shares of the oil and gas company’s stock valued at $8,381,000 after purchasing an additional 360,286 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Oil States International in the first quarter valued at approximately $6,046,000. Emerald Advisers LLC acquired a new position in shares of Oil States International in the second quarter valued at approximately $4,688,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Oil States International in the second quarter valued at approximately $4,272,000.

About Oil States International

Oil States International, Inc, through its subsidiaries, provides oilfield products and services for the drilling, completion, subsea, production, and infrastructure sectors of the oil and gas industry worldwide. The company operates in three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products.

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Analyst Recommendations for Oil States International (NYSE:OIS)

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