Oil States International (NYSE:OIS) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Oil States International, Inc. (NYSE:OIS)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.92 and traded as high as $6.92. Oil States International shares last traded at $6.78, with a volume of 555,472 shares traded.

Analysts Set New Price Targets

OIS has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Oil States International in a research report on Wednesday, October 8th. Wall Street Zen downgraded Oil States International from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Susquehanna raised their price objective on Oil States International from $5.50 to $6.50 and gave the company a “neutral” rating in a report on Monday, November 3rd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.50.

Oil States International Trading Down 1.6%

The stock has a market cap of $405.11 million, a price-to-earnings ratio of 18.32 and a beta of 1.27. The firm’s 50-day moving average is $6.55 and its two-hundred day moving average is $5.92.

Oil States International (NYSE:OIS) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Oil States International had a return on equity of 2.85% and a net margin of 3.52%.The firm had revenue of $165.18 million during the quarter, compared to analyst estimates of $169.01 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, analysts predict that Oil States International, Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In related news, CEO Cindy B. Taylor sold 14,760 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $6.75, for a total transaction of $99,630.00. Following the completion of the sale, the chief executive officer directly owned 2,109,724 shares in the company, valued at approximately $14,240,637. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. boosted its stake in Oil States International by 46.6% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 1,174,300 shares of the oil and gas company’s stock worth $6,294,000 after purchasing an additional 373,500 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of 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 worth $2,933,000 after buying an additional 334,279 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in Oil States International by 454.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 252,171 shares of the oil and gas company’s stock worth $1,352,000 after acquiring an additional 206,678 shares during the last quarter. LSV Asset Management acquired a new position in Oil States International during the third quarter worth about $1,094,000. Finally, Russell Investments Group Ltd. grew its stake in Oil States International by 121.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 287,663 shares of the oil and gas company’s stock valued at $1,743,000 after acquiring an additional 157,688 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.