Oil States International (NYSE:OIS) Sets New 1-Year High – Time to Buy?

Shares of Oil States International, Inc. (NYSE:OIS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.43 and last traded at $8.3950, with a volume of 106146 shares. The stock had previously closed at $8.06.

Wall Street Analysts Forecast Growth

OIS has been the topic of several recent analyst reports. Susquehanna increased their target price on Oil States International from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Oil States International in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Oil States International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.00.

Oil States International Trading Up 4.4%

The stock has a market capitalization of $502.74 million, a PE ratio of 22.74 and a beta of 1.27. The business’s 50-day moving average is $6.93 and its two-hundred day moving average is $6.15.

Oil States International (NYSE:OIS) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $165.18 million for the quarter, compared to analyst estimates of $169.01 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, analysts predict that Oil States International, Inc. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other Oil States International news, CEO Cindy B. Taylor sold 14,760 shares of the 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 sale, the chief executive officer owned 2,109,724 shares of the company’s stock, valued at $14,240,637. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oil States International

A number of large investors have recently added to or reduced their stakes in OIS. SG Americas Securities LLC lifted its holdings in Oil States International by 106.3% in the 4th quarter. SG Americas Securities LLC now owns 38,807 shares of the oil and gas company’s stock worth $263,000 after buying an additional 19,993 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Oil States International by 20.5% during the third quarter. NewEdge Advisors LLC now owns 18,961 shares of the oil and gas company’s stock worth $115,000 after acquiring an additional 3,222 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Oil States International by 98.8% in the third quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company’s stock worth $70,000 after acquiring an additional 5,779 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Oil States International by 121.3% in the third quarter. Russell Investments Group Ltd. now owns 287,663 shares of the oil and gas company’s stock valued at $1,743,000 after purchasing an additional 157,688 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in Oil States International by 7.9% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 1,266,500 shares of the oil and gas company’s stock valued at $7,675,000 after purchasing an additional 92,200 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

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.