Oil States International (OIS) Raised to “Buy” at SunTrust Banks
SunTrust Banks upgraded shares of Oil States International (NYSE:OIS) from a hold rating to a buy rating in a research note released on Monday morning, Marketbeat reports. SunTrust Banks currently has $35.00 price objective on the oil and gas company’s stock. SunTrust Banks also issued estimates for Oil States International’s Q1 2019 earnings at ($0.04) EPS, Q2 2019 earnings at $0.02 EPS, Q3 2019 earnings at $0.09 EPS, Q4 2019 earnings at $0.13 EPS, FY2019 earnings at $0.19 EPS, Q1 2020 earnings at $0.16 EPS, Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.33 EPS and FY2020 earnings at $1.08 EPS. The analysts noted that the move was a valuation call.
OIS has been the topic of a number of other reports. Stifel Nicolaus began coverage on Oil States International in a report on Monday, September 10th. They issued a buy rating and a $40.00 price target on the stock. Susquehanna Bancshares set a $35.00 price target on Oil States International and gave the company a hold rating in a report on Tuesday, July 31st. Cowen cut their price target on Oil States International from $36.00 to $33.00 and set a market perform rating on the stock in a report on Tuesday, July 31st. TheStreet downgraded Oil States International from a c- rating to a d+ rating in a report on Monday, November 5th. Finally, ValuEngine downgraded Oil States International from a buy rating to a hold rating in a report on Friday, October 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $32.83.
Shares of NYSE:OIS opened at $22.52 on Monday. Oil States International has a 12-month low of $21.06 and a 12-month high of $38.95. The firm has a market capitalization of $1.34 billion, a PE ratio of -21.25 and a beta of 1.90. The company has a current ratio of 3.04, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.
In other news, VP Brian E. Taylor sold 2,380 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $34.05, for a total value of $81,039.00. Following the completion of the sale, the vice president now owns 17,082 shares of the company’s stock, valued at approximately $581,642.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.87% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of OIS. Loomis Sayles & Co. L P boosted its position in shares of Oil States International by 62.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 779,018 shares of the oil and gas company’s stock worth $25,863,000 after purchasing an additional 300,194 shares in the last quarter. Walthausen & Co. LLC acquired a new stake in shares of Oil States International in the 3rd quarter worth $6,416,000. Principal Financial Group Inc. lifted its position in Oil States International by 22.5% during the 1st quarter. Principal Financial Group Inc. now owns 468,186 shares of the oil and gas company’s stock worth $12,266,000 after acquiring an additional 85,882 shares during the period. Eagle Asset Management Inc. lifted its position in Oil States International by 32.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 284,000 shares of the oil and gas company’s stock worth $9,116,000 after acquiring an additional 69,563 shares during the period. Finally, Energy Opportunities Capital Management LLC lifted its position in Oil States International by 41.9% during the 2nd quarter. Energy Opportunities Capital Management LLC now owns 215,271 shares of the oil and gas company’s stock worth $6,910,000 after acquiring an additional 63,550 shares during the period.
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 through three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products.
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