Oil States International (NYSE:OIS) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Oil States International, Inc. (NYSE:OIS - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.88 and traded as high as $5.01. Oil States International shares last traded at $5.01, with a volume of 574,445 shares changing hands.

Wall Street Analysts Forecast Growth

OIS has been the topic of several research reports. Piper Sandler reduced their target price 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. StockNews.com raised shares of Oil States International from a "sell" rating to a "hold" rating in a report on Tuesday, July 30th. Finally, Susquehanna upped their price target on shares of Oil States International from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Tuesday, July 30th.

Oil States International Stock Performance

The firm has a market capitalization of $328.14 million, a P/E ratio of -127.75 and a beta of 2.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.26 and a quick ratio of 1.75. The firm has a 50-day moving average price of $4.96 and a two-hundred day moving average price of $4.87.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OIS. Gendell Jeffrey L raised its stake in Oil States International by 8.0% in the 1st quarter. Gendell Jeffrey L now owns 2,897,405 shares of the oil and gas company's stock worth $17,848,000 after acquiring an additional 215,274 shares during the last quarter. Hennessy Advisors Inc. boosted its position in Oil States International by 44.0% in the first quarter. Hennessy Advisors Inc. now owns 485,600 shares of the oil and gas company's stock valued at $2,991,000 after buying an additional 148,300 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Oil States International by 109.0% in the first quarter. Russell Investments Group Ltd. now owns 329,736 shares of the oil and gas company's stock valued at $2,031,000 after buying an additional 171,971 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings 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 buying an additional 74,983 shares during the period. Finally, Quantbot Technologies LP lifted its stake in Oil States International by 524.0% during the 1st quarter. Quantbot Technologies LP now owns 102,380 shares of the oil and gas company's stock valued at $631,000 after acquiring an additional 85,973 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Oil States International Company Profile

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.