Oil States International (NYSE:OIS) Lowered to "Hold" Rating by Wall Street Zen

Oil States International (NYSE:OIS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other research firms have also recently issued reports on OIS. Stifel Nicolaus increased their price target on shares of Oil States International from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Susquehanna cut their price target on shares of Oil States International from $13.00 to $11.00 and set a "neutral" rating for the company in a report on Wednesday. Weiss Ratings reissued a "hold (c)" rating on shares of Oil States International in a report on Tuesday, April 21st. Finally, Raymond James Financial reissued an "outperform" rating and set a $14.00 price target on shares of Oil States International in a report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $13.33.

Oil States International Stock Performance

Shares of NYSE:OIS opened at $8.68 on Friday. The company has a 50-day simple moving average of $11.61 and a 200-day simple moving average of $8.95. Oil States International has a one year low of $4.22 and a one year high of $14.50. The stock has a market capitalization of $522.15 million, a price-to-earnings ratio of -4.47 and a beta of 1.20.

Oil States International (NYSE:OIS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $145.36 million during the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. As a group, research analysts forecast that Oil States International will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OIS. Ameriprise Financial Inc. increased its holdings in Oil States International by 157.0% in the second quarter. Ameriprise Financial Inc. now owns 547,191 shares of the oil and gas company's stock valued at $2,933,000 after buying an additional 334,279 shares in the last quarter. LSV Asset Management purchased a new position in Oil States International in the third quarter valued at about $1,094,000. Russell Investments Group Ltd. increased its holdings 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 buying an additional 157,688 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in Oil States International by 8.5% in the fourth quarter. Kennedy Capital Management LLC now owns 1,452,534 shares of the oil and gas company's stock valued at $9,834,000 after buying an additional 113,541 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Oil States International in the second quarter valued at about $505,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.

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