Oil States International (NYSE:OIS) Reaches New 12-Month High on Earnings Beat

Oil States International, Inc. (NYSE:OIS)’s stock price hit a new 52-week high on Monday following a better than expected earnings announcement. The company traded as high as $13.31 and last traded at $13.2750, with a volume of 557548 shares traded. The stock had previously closed at $12.53.

The oil and gas company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $178.46 million during the quarter, compared to analyst estimates of $178.92 million. Oil States International had a positive return on equity of 3.27% and a negative net margin of 16.35%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Oil States International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Stifel Nicolaus set a $15.00 target price on Oil States International in a research report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Oil States International in a report on Thursday, January 22nd. Finally, Susquehanna boosted their price objective on Oil States International from $8.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.00.

Insiders Place Their Bets

In other news, CEO Cindy B. Taylor sold 14,760 shares of Oil States International stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $6.75, for a total transaction of $99,630.00. Following the transaction, the chief executive officer directly 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Oil States International

Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Oil States International by 221.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 4,740 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in 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 valued at $70,000 after buying an additional 5,779 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Oil States International by 19.5% during the fourth quarter. Captrust Financial Advisors now owns 14,262 shares of the oil and gas company’s stock worth $97,000 after acquiring an additional 2,332 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Oil States International during the second quarter worth $84,000. Finally, SG Americas Securities LLC raised its holdings in shares of Oil States International by 71.5% during the third quarter. SG Americas Securities LLC now owns 18,814 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 7,845 shares during the period. 97.44% of the stock is currently owned by institutional investors.

Oil States International Trading Up 5.7%

The stock has a market capitalization of $791.69 million, a price-to-earnings ratio of -6.94 and a beta of 1.30. The stock’s 50 day moving average is $8.13 and its two-hundred day moving average is $6.74.

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.