Channing Capital Management LLC cut its holdings in shares of Oil States International, Inc. (NYSE:OIS) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,623,242 shares of the oil and gas company’s stock after selling 23,697 shares during the quarter. Channing Capital Management LLC owned approximately 3.18% of Oil States International worth $41,149,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Earnest Partners LLC purchased a new stake in Oil States International in the 2nd quarter worth about $53,922,000. Rice Hall James & Associates LLC raised its holdings in shares of Oil States International by 452.3% during the 3rd quarter. Rice Hall James & Associates LLC now owns 655,740 shares of the oil and gas company’s stock valued at $16,623,000 after buying an additional 537,017 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Oil States International by 209.7% during the 2nd quarter. New York State Common Retirement Fund now owns 678,765 shares of the oil and gas company’s stock valued at $18,428,000 after buying an additional 459,598 shares in the last quarter. Hancock Holding Co. purchased a new position in Oil States International in the 2nd quarter worth approximately $6,944,000. Finally, Nikko Asset Management Americas Inc. increased its stake in Oil States International by 22.9% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 387,400 shares of the oil and gas company’s stock worth $10,518,000 after purchasing an additional 72,100 shares during the period.
OIS has been the topic of several research analyst reports. Wells Fargo & Company cut Oil States International from an “outperform” rating to a “market perform” rating and set a $33.00 target price on the stock. in a research note on Friday, July 7th. Cowen and Company reissued a “hold” rating and issued a $30.00 target price on shares of Oil States International in a report on Tuesday, July 11th. BMO Capital Markets dropped their target price on Oil States International from $33.00 to $27.00 and set a “market perform” rating on the stock in a report on Friday, July 14th. Zacks Investment Research downgraded Oil States International from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Finally, Guggenheim cut Oil States International from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.18.
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Oil States International (NYSE:OIS) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.02). Oil States International had a negative net margin of 8.77% and a negative return on equity of 4.62%. The business had revenue of $164.00 million during the quarter, compared to analysts’ expectations of $166.94 million. The business’s revenue was down 8.4% on a year-over-year basis.
Oil States International Company Profile
Oil States International, Inc, through its subsidiaries, provides specialty products and services to oil and natural gas related companies throughout the world. The Company operates as a technology-focused energy services company. The Company operates through two segments: Offshore Products and Well Site Services.
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