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Oil States International (OIS) Showing Signs Of Being Water-Logged And Getting Wetter

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Oil States International (OIS) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Oil States International as such a stock due to the following factors:

  • OIS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $60.6 million.
  • OIS has traded 865,161 shares today.
  • OIS traded in a range 219.1% of the normal price range with a price range of $5.17.
  • OIS traded below its daily resistance level (quality: 9 days, meaning that the stock is crossing a resistance level set by the last 9 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on OIS:

Oil States International, Inc., through its subsidiaries, provides specialty products and services to the oil and gas drilling and production companies worldwide. OIS has a PE ratio of 14.8. Currently there are 4 analysts that rate Oil States International a buy, no analysts rate it a sell, and 9 rate it a hold.

The average volume for Oil States International has been 573,200 shares per day over the past 30 days. Oil States International has a market cap of $5.5 billion and is part of the basic materials sector and energy industry. The stock has a beta of 2.37 and a short float of 3.3% with 2.86 days to cover. Shares are down 2.9% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Oil States International as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and feeble growth in the company's earnings per share.

Highlights from the ratings report include:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Energy Equipment & Services industry. The net income increased by 61.6% when compared to the same quarter one year prior, rising from $103.79 million to $167.74 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 8.2%. Since the same quarter one year prior, revenues slightly increased by 5.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Compared to where it was a year ago today, the stock is now trading at a higher level, regardless of the company's weak earnings results. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
  • OIL STATES INTL INC's earnings per share declined by 21.1% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, OIL STATES INTL INC increased its bottom line by earning $7.46 versus $5.86 in the prior year. For the next year, the market is expecting a contraction of 16.4% in earnings ($6.24 versus $7.46).
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. When compared to other companies in the Energy Equipment & Services industry and the overall market, OIL STATES INTL INC's return on equity is below that of both the industry average and the S&P 500.

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