Oil States International, Inc. (NYSE:OIS) Sees Large Drop in Short Interest

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wedge Capital Management L L P NC boosted 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 valued at $1,118,000 after buying an additional 74,983 shares during the last quarter. Comerica Bank boosted its holdings in Oil States International by 46.6% in the first quarter. Comerica Bank now owns 46,057 shares of the oil and gas company’s stock valued at $284,000 after purchasing an additional 14,631 shares during the last quarter. Gendell Jeffrey L grew its stake in Oil States International by 8.0% during the 1st quarter. Gendell Jeffrey L now owns 2,897,405 shares of the oil and gas company’s stock valued at $17,848,000 after purchasing an additional 215,274 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Oil States International by 23.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 85,287 shares of the oil and gas company’s stock worth $525,000 after purchasing an additional 16,160 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Oil States International by 109.0% in the 1st quarter. Russell Investments Group Ltd. now owns 329,736 shares of the oil and gas company’s stock valued at $2,031,000 after purchasing an additional 171,971 shares in the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Oil States International Trading Up 2.2 %

NYSE:OIS opened at $4.58 on Monday. The business’s 50-day moving average is $4.86 and its two-hundred day moving average is $4.95. The firm has a market capitalization of $292.16 million, a PE ratio of -114.50 and a beta of 2.65. Oil States International has a 12 month low of $3.91 and a 12 month high of $8.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.26 and a quick ratio of 1.75.

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, topping the consensus estimate of $0.04 by $0.03. Oil States International had a positive return on equity of 2.18% and a negative net margin of 0.25%. The firm had revenue of $186.40 million for the quarter, compared to analyst estimates of $183.40 million. During the same period in the previous year, the company posted $0.01 EPS. Oil States International’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts predict that Oil States International will post 0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.