Oil States International Inc. (OIS) Lowered to “Sell” at Zacks Investment Research
Oil States International Inc. (NYSE:OIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Oil States International, Inc. is a diversified oilfield services company. With locations around the world, Oil States is a leading manufacturer of products for deepwater production facilities and subsea pipelines, and a leading supplier of a broad range of services to the oil and gas industry, including production-related rental tools, work force accommodations and logistics, oil country tubular goods distribution and land drilling services. Oil States is organized in three business segments Offshore Products, Tubular Services and Well Site Services. “
Other analysts have also recently issued reports about the company. Simmons boosted their price target on Oil States International from $32.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, June 22nd. Morgan Stanley started coverage on Oil States International in a report on Wednesday, August 10th. They set an “equal weight” rating and a $40.00 price target on the stock. Howard Weil upgraded Oil States International from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $34.00 to $45.00 in a report on Wednesday, June 22nd. Evercore ISI upgraded Oil States International from a “hold” rating to a “buy” rating and upped their target price for the company from $25.00 to $37.00 in a report on Wednesday, June 29th. Finally, Scotiabank upgraded Oil States International from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $34.00 to $45.00 in a report on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $35.94.
Oil States International (NYSE:OIS) opened at 32.12 on Wednesday. The company’s market capitalization is $1.65 billion. The stock’s 50 day moving average is $30.44 and its 200 day moving average is $31.66. Oil States International has a 52 week low of $21.44 and a 52 week high of $36.73.
Oil States International (NYSE:OIS) last released its quarterly earnings results on Tuesday, July 26th. The company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.05. The company had revenue of $175.80 million for the quarter, compared to analysts’ expectations of $174.41 million. Oil States International had a negative return on equity of 0.92% and a negative net margin of 2.63%. The business’s quarterly revenue was down 34.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 earnings per share. Analysts predict that Oil States International will post ($0.95) EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of Oil States International during the second quarter worth about $6,998,000. Bank of New York Mellon Corp raised its position in shares of Oil States International by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 1,815,749 shares of the company’s stock worth $59,702,000 after buying an additional 205,129 shares during the period. Netols Asset Management Inc. purchased a new position in shares of Oil States International during the second quarter worth about $4,713,000. Capital Fund Management S.A. purchased a new position in shares of Oil States International during the second quarter worth about $4,295,000. Finally, Nikko Asset Management Americas Inc. purchased a new position in shares of Oil States International during the second quarter worth about $4,049,000.
About Oil States International
Oil States International, Inc, through its subsidiaries, is a provider of specialty products and services to oil and natural gas companies throughout the world. The Company’s segments include offshore products and well site services. It designs and manufactures a number of products for the offshore energy industry through Offshore Products segments.
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