Oil States International (NYSE:OIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $35.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 7.36% from the company’s previous close.
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. “
A number of other equities research analysts also recently commented on OIS. JPMorgan Chase set a $29.00 price objective on shares of Oil States International and gave the company a “buy” rating in a research report on Thursday, December 21st. Royal Bank of Canada set a $29.00 price objective on shares of Oil States International and gave the company a “hold” rating in a research report on Thursday, December 21st. Wells Fargo raised shares of Oil States International from a “market perform” rating to an “outperform” rating in a research report on Friday, January 12th. Evercore ISI downgraded shares of Oil States International to an “outperform” rating in a research report on Thursday, February 15th. Finally, TheStreet raised shares of Oil States International from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $29.73.
Shares of NYSE:OIS opened at $32.60 on Thursday. Oil States International has a 52 week low of $20.23 and a 52 week high of $34.72.
Oil States International (NYSE:OIS) last announced its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.05. Oil States International had a negative net margin of 12.65% and a negative return on equity of 4.57%. The company had revenue of $183.70 million for the quarter, compared to the consensus estimate of $175.66 million. During the same period in the prior year, the firm posted ($0.20) EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. analysts expect that Oil States International will post -0.2 EPS for the current year.
In related news, major shareholder Holdings B.V. Hcperf sold 5,925,050 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $25.79, for a total value of $152,807,039.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.97% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of OIS. Amalgamated Bank acquired a new stake in Oil States International during the 4th quarter worth $208,000. Leavell Investment Management Inc. acquired a new stake in Oil States International during the 4th quarter worth $226,000. Alps Advisors Inc. acquired a new stake in Oil States International during the 4th quarter worth $245,000. Teachers Retirement System of The State of Kentucky boosted its stake in Oil States International by 59.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 12,840 shares of the oil and gas company’s stock worth $363,000 after purchasing an additional 4,800 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in Oil States International by 130.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,263 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 10,902 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.
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About Oil States International
Oil States International, Inc, through its subsidiaries, provides specialty products and services to oil and gas companies worldwide. It operates through two segments, Well Site Services 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.
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