Oil States International (OIS) Given a $29.00 Price Target at J P Morgan Chase & Co

Oil States International (NYSE:OIS) has been given a $29.00 target price by equities researchers at J P Morgan Chase & Co in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. J P Morgan Chase & Co’s target price points to a potential upside of 6.23% from the stock’s current price.

A number of other brokerages have also recently issued reports on OIS. Loop Capital set a $33.00 target price on shares of Oil States International and gave the stock a “buy” rating in a report on Wednesday, December 13th. Raymond James Financial reissued a “buy” rating on shares of Oil States International in a report on Tuesday, December 12th. Zacks Investment Research raised shares of Oil States International from a “sell” rating to a “hold” rating in a report on Friday, November 10th. BMO Capital Markets cut their target price on shares of Oil States International from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, November 9th. Finally, Cowen set a $18.00 target price on shares of Oil States International and gave the stock a “market perform” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Oil States International presently has an average rating of “Hold” and an average target price of $30.73.

Shares of Oil States International (NYSE:OIS) traded up $0.90 during mid-day trading on Thursday, hitting $27.30. 797,400 shares of the stock traded hands, compared to its average volume of 691,652. The company has a current ratio of 4.09, a quick ratio of 2.60 and a debt-to-equity ratio of 0.02. Oil States International has a twelve month low of $20.23 and a twelve month high of $41.25.

Oil States International (NYSE:OIS) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). Oil States International had a negative return on equity of 4.62% and a negative net margin of 8.77%. The company had revenue of $164.00 million for the quarter, compared to the consensus estimate of $166.94 million. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. analysts anticipate that Oil States International will post -1.1 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OIS. Earnest Partners LLC acquired a new position in shares of Oil States International during the second quarter valued at approximately $53,922,000. Rice Hall James & Associates LLC increased its stake in shares of Oil States International by 452.3% during the third 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 acquiring an additional 537,017 shares during the period. New York State Common Retirement Fund increased its stake in shares of Oil States International by 209.7% during the second 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 acquiring an additional 459,598 shares during the period. Hancock Holding Co. acquired a new position in shares of Oil States International during the second quarter valued at approximately $6,944,000. Finally, Van ECK Associates Corp increased its stake in shares of Oil States International by 18.1% during the third quarter. Van ECK Associates Corp now owns 546,072 shares of the oil and gas company’s stock valued at $13,843,000 after acquiring an additional 83,781 shares during the period.

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About Oil States International

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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