Nikko Asset Management Americas Inc. lifted its position in shares of Oil States International, Inc. (NYSE:OIS) by 24.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,482 shares of the oil and gas company’s stock after acquiring an additional 69,769 shares during the quarter. Nikko Asset Management Americas Inc. owned 0.59% of Oil States International worth $6,046,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Channing Capital Management LLC lifted its stake in Oil States International by 2.5% in the 4th quarter. Channing Capital Management LLC now owns 1,708,690 shares of the oil and gas company’s stock valued at $24,400,000 after buying an additional 41,824 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Oil States International by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,316 shares of the oil and gas company’s stock valued at $52,931,000 after buying an additional 12,473 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Oil States International by 4.0% in the 4th quarter. New York State Common Retirement Fund now owns 905,171 shares of the oil and gas company’s stock valued at $12,926,000 after acquiring an additional 35,142 shares during the last quarter. Van ECK Associates Corp raised its holdings in Oil States International by 56.5% in the 4th quarter. Van ECK Associates Corp now owns 771,202 shares of the oil and gas company’s stock valued at $11,013,000 after acquiring an additional 278,329 shares during the last quarter. Finally, Norges Bank acquired a new position in Oil States International in the 4th quarter valued at $10,792,000.
In related news, VP Christopher E. Cragg sold 3,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $20.43, for a total value of $61,290.00. Following the completion of the sale, the vice president now directly owns 203,612 shares in the company, valued at approximately $4,159,793.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.
A number of analysts have recently commented on OIS shares. Zacks Investment Research downgraded Oil States International from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. SunTrust Banks restated a “buy” rating and set a $28.00 price objective on shares of Oil States International in a report on Wednesday, February 20th. Raymond James upgraded Oil States International from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $26.00 to $27.00 in a report on Wednesday, March 27th. They noted that the move was a valuation call. Wells Fargo & Co upgraded Oil States International from a “market perform” rating to an “outperform” rating and set a $16.21 price objective for the company in a report on Friday, March 29th. Finally, Royal Bank of Canada set a $32.00 price objective on Oil States International and gave the stock a “hold” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Oil States International presently has a consensus rating of “Hold” and an average target price of $30.12.
NYSE OIS traded down $0.08 during trading hours on Friday, hitting $16.87. The company had a trading volume of 310,300 shares, compared to its average volume of 606,438. Oil States International, Inc. has a fifty-two week low of $13.20 and a fifty-two week high of $37.39. The company has a market cap of $1.09 billion, a P/E ratio of -140.58 and a beta of 2.36. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.20.
Oil States International (NYSE:OIS) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.05. Oil States International had a negative return on equity of 1.48% and a negative net margin of 2.79%. The firm had revenue of $250.60 million during the quarter, compared to the consensus estimate of $245.20 million. During the same period in the prior year, the firm earned ($0.01) EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Oil States International, Inc. will post -0.32 EPS for the current fiscal year.
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Oil States International Company Profile
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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