Oil States International (NYSE:OIS) Posts Quarterly Earnings Results

Oil States International (NYSE:OIS) posted its quarterly earnings results on Friday. The oil and gas company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01), Zacks reports. Oil States International had a net margin of 1.02% and a return on equity of 2.56%. The company had revenue of $165.18 million during the quarter, compared to analyst estimates of $169.01 million. During the same period last year, the company earned $0.04 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year.

Oil States International Price Performance

NYSE:OIS opened at $5.96 on Friday. The business’s 50-day simple moving average is $5.96 and its 200-day simple moving average is $5.25. Oil States International has a fifty-two week low of $3.08 and a fifty-two week high of $6.88. The stock has a market capitalization of $360.83 million, a PE ratio of 54.14 and a beta of 1.82.

Analysts Set New Price Targets

Several equities analysts have weighed in on OIS shares. Wall Street Zen lowered Oil States International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Oil States International in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its position in shares of Oil States International by 157.0% during the second 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. Marshall Wace LLP bought a new position in Oil States International during the 2nd quarter worth about $505,000. NewEdge Advisors LLC bought a new position in Oil States International during the 2nd quarter worth about $84,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Oil States International by 221.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 4,740 shares during the period. Institutional investors own 97.44% of the company’s stock.

Oil States International Company Profile

Oil States International, Inc, through its subsidiaries, provides engineered capital equipment and products for the energy, industrial, and military sectors worldwide. The company operates through three segments: Well Site Services, Downhole Technologies, 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.