Oil States International, Inc. (NYSE:OIS) Short Interest Update

Key Points

• Oil States International saw a significant decline in short interest, dropping by 20.2% from 1,830,000 shares to 1,460,000 shares as of August 31st.
• Institutional and hedge fund ownership of the company is robust, with these entities controlling 97.44% of the stock, indicating strong investor confidence.
• Despite a revenue drop of 11.3% year-over-year, the company met earnings expectations with $0.09 per share for the recent quarter.

Oil States International, Inc. (NYSE:OIS - Get Free Report) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 1,460,000 shares, a decline of 20.2% from the August 15th total of 1,830,000 shares. Based on an average daily volume of 709,900 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.6% of the shares of the company are short sold. Approximately 2.6% of the shares of the company are short sold. Based on an average daily volume of 709,900 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Trading of Oil States International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in 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 valued at $2,933,000 after acquiring an additional 334,279 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Oil States International during the 2nd quarter worth approximately $84,000. Marshall Wace LLP bought a new stake in shares of Oil States International during the 2nd quarter worth approximately $505,000. Kennedy Capital Management LLC raised its stake 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 acquiring an additional 22,064 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in 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 buying an additional 4,740 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on OIS. Wall Street Zen lowered Oil States International from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Susquehanna raised their price target on Oil States International from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.25.

Oil States International Price Performance

Shares of OIS traded down $0.11 during midday trading on Monday, reaching $5.62. The stock had a trading volume of 37,792 shares, compared to its average volume of 702,282. The company's fifty day simple moving average is $5.38 and its two-hundred day simple moving average is $4.91. Oil States International has a 1-year low of $3.08 and a 1-year high of $5.99. The company has a market cap of $340.21 million, a price-to-earnings ratio of 50.96 and a beta of 1.94.

Oil States International (NYSE:OIS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Oil States International had a net margin of 1.02% and a return on equity of 2.56%. The company had revenue of $165.41 million during the quarter, compared to the consensus estimate of $171.50 million. During the same period in the previous year, the firm earned $0.07 earnings per share. Oil States International's revenue for the quarter was down 11.3% on a year-over-year basis. On average, sell-side analysts forecast that Oil States International will post 0.16 earnings per share for the current year.

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.