Oil States International (NYSE:OIS) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Oil States International's stock recently surpassed its 200-day moving average, trading as high as $6.15, indicating a positive trend in its performance.
• Analysts have mixed views on OIS, with a consensus rating of "Moderate Buy" and a target price of $7.25, while one analyst downgraded it to a "buy" from "strong-buy."
• The company reported $0.09 EPS for the last quarter, meeting expectations, but its revenue of $165.41 million fell short of the forecasted $171.50 million.

Oil States International, Inc. (NYSE:OIS - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.98 and traded as high as $6.15. Oil States International shares last traded at $6.08, with a volume of 469,219 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on OIS shares. Wall Street Zen downgraded Oil States International from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Susquehanna lifted their target price on Oil States International from $4.50 to $5.50 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Oil States International presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.25.

Oil States International Price Performance

The firm has a market capitalization of $368.10 million, a price-to-earnings ratio of 55.23 and a beta of 1.82. The stock has a 50 day moving average price of $5.52 and a two-hundred day moving average price of $4.98.

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

Institutional Trading of Oil States International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System purchased a new stake in Oil States International during the 2nd quarter valued at approximately $29,000. GAMMA Investing LLC raised its stake in shares of Oil States International by 374.4% during the 1st quarter. GAMMA Investing LLC now owns 5,845 shares of the oil and gas company's stock worth $30,000 after buying an additional 4,613 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 worth $37,000 after buying an additional 4,740 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Oil States International by 944.2% during 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 purchased a new position in shares of Oil States International during the 2nd quarter worth approximately $84,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.

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