Oil States International, Inc. (NYSE:OIS) Sees Significant Decline in Short Interest

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) saw a large decline in short interest during the month of 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. Currently, 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 709,900 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily trading volume, of 709,900 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.6% of the shares of the company are sold short.

Oil States International Price Performance

Shares of Oil States International stock traded up $0.09 during trading hours on Monday, reaching $5.81. The company had a trading volume of 394,808 shares, compared to its average volume of 440,050. Oil States International has a one year low of $3.08 and a one year high of $5.99. The firm has a market cap of $351.72 million, a PE ratio of 52.78 and a beta of 1.94. The business has a fifty day simple moving average of $5.39 and a 200 day simple moving average of $4.91.

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 EPS for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $171.50 million. During the same period last year, the business earned $0.07 earnings per share. Oil States International's revenue was down 11.3% compared to the same quarter last year. On average, research analysts forecast that Oil States International will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Oil States International

Several large investors have recently added to or reduced their stakes in OIS. New York State Teachers Retirement System bought a new stake in shares of Oil States International during the 2nd quarter valued at about $29,000. GAMMA Investing LLC lifted its position in Oil States International by 374.4% during the first quarter. GAMMA Investing LLC now owns 5,845 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 4,613 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 worth $37,000 after buying an additional 4,740 shares in the last quarter. New York State Common Retirement Fund grew its stake in Oil States International by 944.2% in the 1st quarter. New York State Common Retirement Fund now owns 9,732 shares of the oil and gas company's stock worth $50,000 after buying an additional 8,800 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of Oil States International in the 2nd quarter worth $84,000. Institutional investors own 97.44% of the company's stock.

Analyst Upgrades and Downgrades

OIS has been the topic of a number of research analyst reports. Susquehanna boosted their target price on shares of Oil States International from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Wall Street Zen cut shares of Oil States International from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $7.25.

About Oil States International

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.