Oil States International (NYSE:OIS) Shares Gap Down - Here's What Happened

Key Points

• Oil States International shares gapped down, opening at $9.19 versus the prior close of $9.60, and were last trading at $9.4060.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $12.00 target price after several brokerages adjusted their targets.
• The company beat quarterly expectations, reporting $0.15 in earnings per share versus estimates of $0.12 and revenue of $169.76 million; institutional investors own approximately 97.44% of the stock.

Oil States International, Inc. (NYSE:OIS - Get Free Report)'s stock price gapped down prior to trading on Monday. The stock had previously closed at $9.60, but opened at $9.19. Oil States International shares last traded at $9.4060, with a volume of 311,247 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OIS. Stifel Nicolaus reduced their price target on Oil States International from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Raymond James Financial lowered their price target on shares of Oil States International from $14.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, July 10th. Weiss Ratings raised shares of Oil States International from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Finally, Susquehanna increased their target price on shares of Oil States International from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Oil States International has a consensus rating of "Hold" and a consensus target price of $12.00.

Oil States International Trading Down 1.9%

The company has a 50 day moving average of $8.47 and a 200 day moving average of $9.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 2.36. The stock has a market capitalization of $567.91 million, a price-to-earnings ratio of -5.05 and a beta of 1.23.

Oil States International (NYSE:OIS - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $169.76 million for the quarter, compared to analysts' expectations of $162.62 million. Oil States International had a negative net margin of 16.47% and a positive return on equity of 5.13%. The company's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, research analysts predict that Oil States International, Inc. will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in shares of Oil States International by 1,228.6% in the 2nd quarter. Squarepoint Ops LLC now owns 399,706 shares of the oil and gas company's stock valued at $3,202,000 after buying an additional 369,621 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Oil States International during the 1st quarter worth about $2,839,000. Bank of New York Mellon Corp acquired a new stake in shares of Oil States International during the 2nd quarter worth about $2,637,000. Wedge Capital Management L L P NC lifted its stake in Oil States International by 52.0% during the second quarter. Wedge Capital Management L L P NC now owns 137,594 shares of the oil and gas company's stock worth $1,102,000 after purchasing an additional 47,068 shares during the last quarter. Finally, JB Capital Partners LP purchased a new stake in Oil States International during the second quarter worth approximately $680,850. Hedge funds and other institutional investors own 97.44% of the company's stock.

Oil States International Company Profile

Oil States International, Inc is an energy services and equipment company that supports oil and natural gas exploration, drilling, completion, production and infrastructure activities. The company serves operators, drilling contractors and other energy-industry customers through two primary areas: Well Site Services and Offshore/Manufactured Products.

Its Well Site Services business provides equipment and services used during the completion and production phases of a well. Offerings include completion and workover services, well testing, rental tools, frac water management and related support services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.