Oil States International (NYSE:OIS) Reaches New 52-Week High – Here’s What Happened

Oil States International, Inc. (NYSE:OIS)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $8.90 and last traded at $8.8950, with a volume of 1084682 shares traded. The stock had previously closed at $8.48.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OIS. Wall Street Zen downgraded shares of Oil States International from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Oil States International in a report on Thursday, January 22nd. Finally, Susquehanna boosted their target price on shares of Oil States International from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.00.

Oil States International Trading Up 4.9%

The firm has a market capitalization of $531.48 million, a P/E ratio of 24.04 and a beta of 1.30. The stock’s 50-day simple moving average is $7.40 and its 200-day simple moving average is $6.37.

Insider Activity

In related news, CEO Cindy B. Taylor sold 14,760 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $6.75, for a total transaction of $99,630.00. Following the completion of the sale, the chief executive officer directly owned 2,109,724 shares of the company’s stock, valued at approximately $14,240,637. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its position in shares of Oil States International by 106.3% during the 4th quarter. SG Americas Securities LLC now owns 38,807 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 19,993 shares during the last quarter. NewEdge Advisors LLC grew its position in Oil States International by 20.5% during the third quarter. NewEdge Advisors LLC now owns 18,961 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 3,222 shares during the period. BNP Paribas Financial Markets grew its position in Oil States International by 98.8% during the third quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 5,779 shares during the period. Russell Investments Group Ltd. increased its holdings in Oil States International by 121.3% during the third quarter. Russell Investments Group Ltd. now owns 287,663 shares of the oil and gas company’s stock worth $1,743,000 after buying an additional 157,688 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Oil States International by 7.9% in the third quarter. Hillsdale Investment Management Inc. now owns 1,266,500 shares of the oil and gas company’s stock worth $7,675,000 after acquiring an additional 92,200 shares during the period. Institutional investors own 97.44% of the company’s stock.

Oil States International Company Profile

Oil States International, Inc is a Houston-based provider of products and services to the global oil and gas industry. Through its well site solutions and flat steel solutions segments, the company supplies critical equipment and consumables used in drilling, completion and production operations. Its well site offerings include a broad range of rental products—such as coiled tubing, frac iron, pressure control equipment and downhole tool rentals—designed to support drilling rigs and well completion crews.

In addition to rental and service offerings, Oil States International’s flat steel solutions business manufactures and distributes steel pipeline and flowback products.