Oil States International (NYSE:OIS) Downgraded to “Market Perform” at Wells Fargo & Co

Wells Fargo & Co lowered shares of Oil States International (NYSE:OIS) from an outperform rating to a market perform rating in a research report report published on Thursday morning, The Fly reports.

Several other research firms have also recently commented on OIS. Piper Jaffray Companies set a $16.00 price target on shares of Oil States International and gave the stock a hold rating in a report on Wednesday, June 26th. Raymond James decreased their price target on shares of Oil States International from $25.00 to $23.00 and set a strong-buy rating for the company in a report on Tuesday, July 30th. Zacks Investment Research cut shares of Oil States International from a hold rating to a sell rating in a report on Wednesday, July 31st. ValuEngine upgraded shares of Oil States International from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada decreased their price target on shares of Oil States International to $23.00 and set a sector perform rating for the company in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $22.91.

Shares of OIS stock traded up $0.65 during trading on Thursday, hitting $15.46. 23,474 shares of the company were exchanged, compared to its average volume of 489,249. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.57 and a current ratio of 2.67. The firm has a market capitalization of $947.55 million, a price-to-earnings ratio of -128.92 and a beta of 2.26. The business’s 50-day simple moving average is $13.90 and its 200 day simple moving average is $16.33. Oil States International has a twelve month low of $11.73 and a twelve month high of $34.66.

Oil States International (NYSE:OIS) last posted its quarterly earnings results on Monday, July 29th. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $264.70 million for the quarter, compared to analyst estimates of $273.73 million. Oil States International had a negative return on equity of 2.29% and a negative net margin of 4.02%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. On average, equities analysts forecast that Oil States International will post -0.51 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of OIS. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Oil States International during the first quarter valued at approximately $6,046,000. Emerald Advisers LLC bought a new position in shares of Oil States International in the second quarter valued at approximately $4,688,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Oil States International in the second quarter valued at approximately $4,272,000. Marshall Wace LLP bought a new position in shares of Oil States International in the first quarter valued at approximately $2,257,000. Finally, Van ECK Associates Corp raised its position in shares of Oil States International by 25.0% in the second quarter. Van ECK Associates Corp now owns 578,005 shares of the oil and gas company’s stock valued at $10,577,000 after purchasing an additional 115,567 shares during the period.

About Oil States International

Oil States International, Inc, through its subsidiaries, provides oilfield products and services for the drilling, completion, subsea, production, and infrastructure sectors of the oil and gas industry worldwide. The company operates in three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products.

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