Short Interest in Oil States International, Inc. (NYSE:OIS) Declines By 17.9%

Oil States International, Inc. (NYSE:OIS) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,740,000 shares, a decline of 17.9% from the August 15th total of 2,120,000 shares. Based on an average daily trading volume, of 810,400 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.9% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research firms recently commented on OIS. Piper Sandler dropped their price objective on Oil States International from $7.50 to $5.50 and set a “neutral” rating on the stock in a report on Monday, July 15th. Susquehanna raised their price target on shares of Oil States International from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, StockNews.com raised shares of Oil States International from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th.

Oil States International Stock Up 2.0 %

OIS opened at $4.67 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.75 and a current ratio of 3.26. The business has a 50 day moving average price of $4.86 and a 200 day moving average price of $4.95. Oil States International has a twelve month low of $3.91 and a twelve month high of $8.87.

Oil States International (NYSE:OIS) last released its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Oil States International had a negative net margin of 0.25% and a positive return on equity of 2.18%. The company had revenue of $186.40 million for the quarter, compared to analyst estimates of $183.40 million. During the same quarter last year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts forecast that Oil States International will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Oil States International

Hedge funds have recently bought and sold shares of the company. Comerica Bank lifted its holdings in shares of Oil States International by 46.6% during the first quarter. Comerica Bank now owns 46,057 shares of the oil and gas company’s stock worth $284,000 after buying an additional 14,631 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Oil States International by 23.4% during the first quarter. Public Employees Retirement System of Ohio now owns 85,287 shares of the oil and gas company’s stock worth $525,000 after acquiring an additional 16,160 shares during the period. Russell Investments Group Ltd. raised its stake in Oil States International by 19.9% during the 4th quarter. Russell Investments Group Ltd. now owns 157,765 shares of the oil and gas company’s stock valued at $1,071,000 after purchasing an additional 26,137 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Oil States International by 202.1% in the 1st quarter. BNP Paribas Financial Markets now owns 52,288 shares of the oil and gas company’s stock valued at $322,000 after purchasing an additional 34,979 shares during the period. Finally, Wedge Capital Management L L P NC grew its position in Oil States International by 42.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 251,807 shares of the oil and gas company’s stock worth $1,118,000 after purchasing an additional 74,983 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

About Oil States International

Oil States International, Inc, through its subsidiaries, provides engineered capital equipment and products for the energy, industrial, and military sectors worldwide. The company operates through three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products. The Well Site Services segment offers a range of equipment and services that are used to drill for, establish, and maintain the flow of oil and natural gas from a well throughout its lifecycle.