Russell Investments Group Ltd., a financial services firm, has significantly reduced its stake in Oil States International, Inc. (NYSE:OIS) during the first quarter of this year. According to their latest disclosure with the Securities and Exchange Commission, the company now owns 131,628 shares of Oil States International, representing a decrease of 52.5% after selling 145,436 shares. The total value of their stake is estimated to be $1,096,000 as of the end of the quarter analyzed.
Oil States International recently released its earnings results for the second quarter on Thursday, July 27th. Unfortunately for shareholders, the company reported earnings per share (EPS) of $0.01 for the quarter, missing analysts’ consensus estimates by ($0.05). This was a notable difference from the expected EPS of $0.06. Moreover, there were concerns regarding their return on equity and net margin as well since they stood at 0.46% and 1.00%, respectively.
In terms of revenue, Oil States International generated $183.50 million during the second quarter compared to analysts’ estimates of $201.88 million – a significant gap between projections and actual performance. In addition to this disappointment, it is important to note that in the same quarter last year, recorded earnings per share were in negative territory at ($0.08) EPS.
Despite these setbacks in quarterly earnings and revenue figures, it is worth mentioning that Oil States International’s revenue for this period showed a slight improvement of .9% compared to the same period last year.
Oil States International operates through three main segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products. The company provides engineered capital equipment and products for various sectors including energy, industrial, and military industries worldwide.
The Well Site Services segment offers equipment and services catering to drilling operations such as establishing oil flow from wells and maintaining it throughout the well’s lifecycle. Downhole Technologies focuses on specialized tools and equipment used in oil extraction processes. Lastly, the Offshore/Manufactured Products segment primarily caters to offshore drilling activities and provides products for the manufacturing industry.
As we move forward into the fiscal year, sell-side analysts anticipate that Oil States International will post EPS of 0.22 for the current period. Given the recent decrease in Russell Investments Group Ltd.’s stake, it is vital to monitor future developments within the company to discern any potential impact on shareholder value. With a focus on providing capital equipment and products for multiple industries, Oil States International’s performance will undoubtedly be watched closely by investors and industry analysts alike.
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Surge in Interest and Investments: Oil States International Gains Attention from Hedge Funds and Institutional Investors
Oil States International, an oil and gas company, has recently seen a surge in interest from hedge funds and institutional investors. This influx of investments has boosted the company’s holdings and brought attention to its stock.
Nikko Asset Management Americas Inc., a prominent institutional investor, increased its holdings in Oil States International by 19.9% during the fourth quarter. The company now owns 188,581 shares of the oil and gas stock, valued at $1,407,000 after acquiring an additional 31,335 shares. Another notable investor, Gendell Jeffrey L, raised their holdings in Oil States International by 32.9% during the same period. Gendell Jeffrey L now possesses 2,988,197 shares of the company’s stock worth $22,292,000 after purchasing an additional 740,199 shares.
Ellevest Inc., another institutional investor, also saw a significant increase in its stake in Oil States International. It raised its holdings by 47.2% during the first quarter and currently holds 25,596 shares valued at $213,000 after purchasing an additional 8,202 shares.
New York State Common Retirement Fund also joined the ranks of investors boosting their holdings in Oil States International by 0.6% during the first quarter. The fund now owns 1,332/893 shares worth $11,103/following yet purchasing an additional 7/580/fourths during this period.
Additionally,Augustana State Retirement System acquired a new position in Oil States International during the first quarter for.stocks valued at $154/originally.
It is imperative to note that approximately 89.76% of the total outstanding stock is owned by various hedge funds and institutional investors.
In terms of the performance of Oil States International’s stock itself on Thursday last week (date pending), it opened at $7.88 per share – a modest figure. Over the past year, the stock had a low of $3.51 and a high of $10.47, indicating some fluctuation in its value.
When analyzing the company’s financial standing, it reveals a debt-to-equity ratio of 0.19, which suggests that Oil States International has managed its debts relatively well. The current and quick ratios stand at 2.81 and 1.55 respectively, revealing manageable liquidity levels.
With regards to the market as a whole, Oil States International has a market capitalization of $503.53 million and a price-to-earnings (PE) ratio of 65.67 indicating that it may be overvalued compared to industry peers/when compared to other stocks in their sector,. Moreover,,the stock possesses a beta value of 2/-an indication o possessnga high degree f volatility.thanothe an average market price/- thus making it more volatile than the average stock price..
It is worth mentioning that StockNews.com recently initiated coverage on Oil States International, issuing a “hold” rating on the stock on August 17th.
As hedge funds and institutional investors continue to demonstrate confidence in Oil States International through increased holdings and investments, many eyes remain fixed on this oil and gas company. With its recent performance and evaluations from different sources such as StockNews.com, both potential investors and industry experts are curious to observe how Oil States International will fare in the coming months/expectation for future growth remains uncertain..
