Oil States International (NYSE:OIS) Stock Breaks Above 50 Day Moving Average – Here’s Why

Oil States International, Inc. (NYSE:OIS) shares passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $8.48 and traded as high as $8.60. Oil States International shares last traded at $8.5150, with a volume of 838,291 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OIS shares. Wall Street Zen raised shares of Oil States International from a “hold” rating to a “buy” rating in a research note on Saturday. Susquehanna increased their price target on Oil States International from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Weiss Ratings upgraded Oil States International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, 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 report on Friday, July 31st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.00.

Oil States International Trading Up 2.1%

The business’s 50-day moving average is $8.48 and its 200 day moving average is $9.35. The firm has a market capitalization of $509.28 million, a P/E ratio of -4.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.36 and a quick ratio of 1.27.

Oil States International (NYSE:OIS) last released its quarterly earnings results on Friday, October 30th. The oil and gas company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Oil States International had a negative net margin of 16.47% and a positive return on equity of 5.13%. The company had revenue of $169.76 million during the quarter, compared to the consensus estimate of $162.62 million. During the same period in the previous year, the business earned $0.08 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts anticipate that Oil States International, Inc. will post 0.54 EPS for the current fiscal year.

Institutional Trading of Oil States International

A number of institutional investors and hedge funds have recently made changes to their positions in OIS. Squarepoint Ops LLC increased its stake in Oil States International by 1,228.6% in 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 acquiring an additional 369,621 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Oil States International during the first quarter worth $2,839,000. Bank of New York Mellon Corp bought a new stake in Oil States International during the second quarter worth $2,637,000. Wedge Capital Management L L P NC lifted its stake in Oil States International by 52.0% during the second quarter. Wedge Capital Management L L P NC now owns 137,594 shares of the oil and gas company’s stock worth $1,102,000 after purchasing an additional 47,068 shares during the last quarter. Finally, JB Capital Partners LP acquired a new stake in shares of Oil States International in the 2nd quarter valued at $680,850. Institutional investors own 97.44% of the company’s stock.

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.