Oil States International (NYSE:OIS) Price Target Cut to $8.00 by Analysts at Susquehanna

Oil States International (NYSE:OIS) had its target price reduced by analysts at Susquehanna from $11.00 to $8.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price would indicate a potential upside of 2.37% from the stock’s previous close.

Several other research analysts have also recently weighed in on OIS. Wall Street Zen cut shares of Oil States International from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Oil States International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Oil States International presently has an average rating of “Hold” and a consensus price target of $12.33.

Oil States International Trading Up 1.6%

NYSE OIS opened at $7.82 on Wednesday. The business has a fifty day simple moving average of $8.67 and a 200 day simple moving average of $9.54. Oil States International has a 12 month low of $4.75 and a 12 month high of $14.50. The firm has a market capitalization of $470.38 million, a P/E ratio of -4.03 and a beta of 1.08.

Oil States International (NYSE:OIS) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $145.36 million for the quarter, compared to the consensus estimate of $153.79 million. Oil States International had a negative net margin of 17.03% and a positive return on equity of 3.62%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. As a group, sell-side analysts predict that Oil States International will post 0.55 EPS for the current fiscal year.

Institutional Trading of Oil States International

Several hedge funds have recently added to or reduced their stakes in OIS. EverSource Wealth Advisors LLC boosted its stake in Oil States International by 221.9% in the second quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 4,740 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Oil States International in the 2nd quarter worth approximately $505,000. NewEdge Advisors LLC bought a new stake in shares of Oil States International in the 2nd quarter worth approximately $84,000. Ameriprise Financial Inc. raised its holdings in shares of Oil States International by 157.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 547,191 shares of the oil and gas company’s stock worth $2,933,000 after purchasing an additional 334,279 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in 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 valued at $1,743,000 after purchasing an additional 157,688 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

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.