Oil States International (NYSE:OIS) Shares Down 6.4% - Here's Why

Key Points

• Shares fell 6.4% intraday, trading as low as $10.01 and last at $10.48 on volume of 146,583 shares — an 86% drop from the average session volume; the stock had closed at $11.20 previously.
• Several analysts raised targets recently (Susquehanna to $13, Stifel to $15, Raymond James $14), leaving the consensus rating at Moderate Buy with an average target price of $14.
• Oil States beat EPS estimates at $0.09 but missed revenue expectations ($145.36M vs. $153.79M), with revenue down 9.1% YoY and a negative net margin; the company has a market cap of about $605M and roughly 97% institutional ownership.

Oil States International, Inc. (NYSE:OIS - Get Free Report) shares traded down 6.4% during trading on Tuesday . The stock traded as low as $10.01 and last traded at $10.48. 146,583 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 1,030,048 shares. The stock had previously closed at $11.20.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OIS shares. Susquehanna lifted their price objective on Oil States International from $8.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, February 23rd. Stifel Nicolaus lifted their price objective on Oil States International from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Oil States International in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Oil States International in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised Oil States International from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $14.00.

Oil States International Price Performance

The company's 50-day simple moving average is $11.87 and its 200-day simple moving average is $8.89. The company has a market cap of $604.71 million, a price-to-earnings ratio of -5.26 and a beta of 1.20.

Oil States International (NYSE:OIS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Oil States International had a negative net margin of 16.35% and a positive return on equity of 3.27%. The company had revenue of $145.36 million during the quarter, compared to the consensus estimate of $153.79 million. During the same quarter last year, the company earned $0.06 earnings per share. Oil States International's revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts predict that Oil States International, Inc. will post 0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Oil States International

Several institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors boosted its stake in shares of Oil States International by 19.5% during the 4th quarter. Captrust Financial Advisors now owns 14,262 shares of the oil and gas company's stock valued at $97,000 after buying an additional 2,332 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Oil States International by 20.5% during the 3rd quarter. NewEdge Advisors LLC now owns 18,961 shares of the oil and gas company's stock valued at $115,000 after buying an additional 3,222 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Oil States International by 7.3% during the 1st 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 last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Oil States International by 221.9% during 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 during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Oil States International by 1.7% during the 4th quarter. Russell Investments Group Ltd. now owns 292,652 shares of the oil and gas company's stock valued at $1,981,000 after buying an additional 4,989 shares during the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

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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