Oil States International (NYSE:OIS) Shares Gap Up Following Strong Earnings

Oil States International, Inc. (NYSE:OIS) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $9.08, but opened at $9.60. Oil States International shares last traded at $9.45, with a volume of 85,924 shares traded.

The oil and gas company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Oil States International had a positive return on equity of 4.28% and a negative net margin of 16.78%. The firm had revenue of $169.76 million for the quarter, compared to analyst estimates of $162.62 million. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus cut their price target on Oil States International from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Raymond James Financial reduced their target price on shares of Oil States International from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Weiss Ratings upgraded 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 price objective on shares of Oil States International from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.67.

Institutional Investors Weigh In On Oil States International

Large investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its position in shares of Oil States International by 1,228.6% during the second quarter. Squarepoint Ops LLC now owns 399,706 shares of the oil and gas company’s stock valued at $3,202,000 after purchasing an additional 369,621 shares in the last quarter. Pacer Advisors Inc. bought a new position in Oil States International during the first quarter valued at approximately $2,839,000. Bank of New York Mellon Corp purchased a new position in shares of Oil States International during the 2nd quarter worth $2,637,000. JB Capital Partners LP bought a new position in shares of Oil States International in the second quarter worth approximately $680,850. Finally, GAMMA Investing LLC lifted its position in shares of Oil States International by 64.2% in the third quarter. GAMMA Investing LLC now owns 3,178 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 1,243 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

Oil States International Trading Up 3.3%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.29 and a current ratio of 2.35. The company has a market capitalization of $565.56 million, a PE ratio of -4.96 and a beta of 1.20. The stock has a fifty day moving average of $8.45 and a 200 day moving average of $9.33.

About Oil States International

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.