Oil States International (NYSE:OIS) Hits New 1-Year High Following Strong Earnings

Oil States International, Inc. (NYSE:OIS) hit a new 52-week high during trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $13.31 and last traded at $13.2750, with a volume of 557548 shares changing hands. The stock had previously closed at $12.53.

The oil and gas company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $178.46 million during the quarter, compared to analysts’ expectations of $178.92 million. Oil States International had a negative net margin of 16.35% and a positive return on equity of 3.27%. Oil States International’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS.

Wall Street Analyst Weigh In

OIS has been the topic of several recent research reports. Wall Street Zen lowered shares of Oil States International from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Oil States International in a report on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating and set a $14.00 target price on shares of Oil States International in a report on Monday. Susquehanna upped their price target on Oil States International from $8.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Stifel Nicolaus lifted their price objective on shares of Oil States International from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Insiders Place Their Bets

In other news, CEO Cindy B. Taylor sold 14,760 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $6.75, for a total value of $99,630.00. Following the completion of the transaction, the chief executive officer owned 2,109,724 shares in the company, valued at $14,240,637. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Oil States International

Institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC increased its holdings in Oil States International by 454.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 252,171 shares of the oil and gas company’s stock worth $1,352,000 after purchasing an additional 206,678 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Oil States International by 46.6% during the second quarter. Hillsdale Investment Management Inc. now owns 1,174,300 shares of the oil and gas company’s stock worth $6,294,000 after buying an additional 373,500 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Oil States International by 221.9% during the second 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. Kennedy Capital Management LLC raised its position in Oil States International by 1.1% in the 2nd quarter. Kennedy Capital Management LLC now owns 2,011,509 shares of the oil and gas company’s stock valued at $10,782,000 after buying an additional 22,064 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Oil States International in the second quarter worth $505,000. 97.44% of the stock is owned by institutional investors.

Oil States International Stock Performance

The company has a fifty day moving average price of $8.26 and a two-hundred day moving average price of $6.80. The company has a market cap of $806.92 million, a P/E ratio of -7.07 and a beta of 1.30.

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.