Bank of New York Mellon Corp Makes New $2.64 Million Investment in Oil States International, Inc. $OIS

Key Points

• Bank of New York Mellon acquired 329,168 shares of Oil States International valued at approximately $2.64 million, representing a 0.55% stake. Institutional investors collectively own 97.44% of the company.
• Oil States reported quarterly earnings of $0.14 per share, beating estimates of $0.11, while revenue reached $255.41 million. However, revenue declined 5.3% year over year and the company posted a negative net margin.
• Analyst sentiment is mixed, with two Buy ratings, one Hold, and one Sell; the stock has an average rating of Hold and an average price target of $11.33 versus a recent price of $8.77.

Bank of New York Mellon Corp acquired a new position in Oil States International, Inc. (NYSE:OIS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 329,168 shares of the oil and gas company's stock, valued at approximately $2,637,000. Bank of New York Mellon Corp owned 0.55% of Oil States International as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in OIS. Pacer Advisors Inc. bought a new stake in Oil States International in the first quarter valued at $2,839,000. Kennedy Capital Management LLC raised its holdings in Oil States International by 8.5% in the 4th quarter. Kennedy Capital Management LLC now owns 1,452,534 shares of the oil and gas company's stock worth $9,834,000 after purchasing an additional 113,541 shares in the last quarter. JB Capital Partners LP purchased a new stake in shares of Oil States International in the 4th quarter worth about $575,000. Entropy Technologies LP bought a new stake in shares of Oil States International during the 1st quarter valued at about $119,000. Finally, Hillsdale Investment Management Inc. increased its position in shares of Oil States International by 7.3% during the first quarter. Hillsdale Investment Management Inc. now owns 57,500 shares of the oil and gas company's stock valued at $669,000 after buying an additional 3,900 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.

Oil States International Price Performance

Shares of Oil States International stock opened at $8.77 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 1.29 and a debt-to-equity ratio of 0.03. The firm has a market cap of $529.01 million, a PE ratio of -4.64 and a beta of 1.12. Oil States International, Inc. has a 12 month low of $5.37 and a 12 month high of $14.50. The stock has a 50 day moving average of $8.44 and a 200 day moving average of $9.69.

Oil States International (NYSE:OIS - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. Oil States International had a negative net margin of 16.78% and a positive return on equity of 4.28%. The company had revenue of $255.41 million for the quarter, compared to analysts' expectations of $158.02 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. Oil States International's quarterly revenue was down 5.3% on a year-over-year basis. On average, research analysts expect that Oil States International, Inc. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

OIS has been the topic of several research reports. Stifel Nicolaus cut their price objective on Oil States International from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Raymond James Financial cut their price objective on shares of Oil States International from $14.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, July 10th. Weiss Ratings cut shares of Oil States International from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, June 11th. Finally, Susquehanna dropped their price objective on shares of Oil States International from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Oil States International currently has an average rating of "Hold" and an average price target of $11.33.

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.

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