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

Oil States International, Inc. (NYSE:OIS)’s share price hit a new 52-week high on Tuesday . The company traded as high as $9.26 and last traded at $9.08, with a volume of 512482 shares changing hands. The stock had previously closed at $9.10.

Analysts Set New Price Targets

A number of research analysts have commented on OIS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Oil States International in a research report on Thursday, January 22nd. Susquehanna upped their price target on Oil States International from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Finally, Wall Street Zen cut Oil States International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.00.

Oil States International Price Performance

The company has a market capitalization of $540.68 million, a P/E ratio of 24.46 and a beta of 1.30. The business’s 50-day moving average price is $7.76 and its two-hundred day moving average price is $6.52.

Insider Buying and Selling at Oil States International

In related news, CEO Cindy B. Taylor sold 14,760 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $6.75, for a total value of $99,630.00. Following the completion of the transaction, the chief executive officer directly owned 2,109,724 shares in the company, valued at approximately $14,240,637. The trade was a 0.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Kennedy Capital Management LLC raised its position in Oil States International by 1.1% in the 2nd quarter. Kennedy Capital Management LLC now owns 2,011,509 shares of the oil and gas company’s stock valued at $10,782,000 after buying an additional 22,064 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Oil States International by 7.9% during the 3rd 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 in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Oil States International by 157.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 547,191 shares of the oil and gas company’s stock worth $2,933,000 after acquiring an additional 334,279 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Oil States International by 121.3% in 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 purchasing an additional 157,688 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in Oil States International by 454.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 252,171 shares of the oil and gas company’s stock worth $1,352,000 after purchasing an additional 206,678 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

About Oil States International

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.