Oil States International Inc. (NYSE:OIS), RLI Corp. (NYSE:RLI)

Oil States International Inc. (NYSE:OIS), RLI Corp. (NYSE:RLI)

The shares of Oil States International Inc. (NYSE:OIS) has been pegged with a rating of Mkt Perform by Raymond James in its latest research note that was published on March 10, 2020. Raymond James wasn’t the only research firm that published a report of Oil States International Inc., with other equities research analysts also giving their opinion on the stock. JP Morgan advised investors in its research note published on February 21, 2020, to Neutral the OIS stock while also putting a $11 price target. The stock had earned Sector Underperform rating from Scotiabank Markets when it published its report on January 06, 2020. The stock was given Underweight rating by JP Morgan in its report released on December 13, 2019, the day when the price target on the stock was placed at 12. Cowen was of a view that OIS is Market Perform in its latest report on May 06, 2019. Wells Fargo thinks that OIS is worth Outperform rating.

Amongst the analysts that rated the stock, 2 have recommended investors to sell it, 10 believe it has the potential for further growth, thus rating it as Hold while 3 advised investors to purchase the stock. The consensus currently stands at a Hold while its average price target is $3.14. The price of the stock the last time has raised by 72.37% from its 52-Week high price while it is -87.68% than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 40.60.

The shares of the company added by 9.62% during the trading session on Wednesday, reaching a low of $2.42 while ending the day at $2.62. During the trading session, a total of 1.54 million shares were traded which represents a -50.64% decline from the average session volume which is 1.02 million shares. OIS had ended its last session trading at $2.39. Oil States International Inc. debt-to-equity ratio currently stands at 0.20, while its quick ratio hovers at 1.40 OIS 52-week low price stands at $1.52 while its 52-week high price is $21.27.

The company in its last quarterly report recorded -$0.17 earnings per share which is above the predicted by most analysts. The Oil States International Inc. generated 8.49 million in revenue during the last quarter. In the second quarter last year, the firm recorded -$0.08 earnings per share. Compared to the same quarter last year, the firm’s revenue was down by -41.18%. Oil States International Inc. has the potential to record -1.15 EPS for the current fiscal year, according to equities analysts.

Investment analysts at B. Riley FBR published a research note on March 23, 2020 where it informed investors and clients that RLI Corp. (NYSE:RLI) is now rated as Buy. Their price target on the stock stands at $89. B. Riley FBR also rated RLI as Reiterated on October 03, 2018, with its price target of $72 suggesting that RLI could surge by 20.91% from its current share price. Even though the stock has been trading at $81.08/share, analysts expect it to down by -11.89% to reach $90.33/share. It started the day trading at $81.2899 and traded between $70.58 and $71.44 throughout the trading session.

A look at its technical shows that RLI’s 50-day SMA is 84.01 while its 200-day SMA stands at 90.39. The stock has a high of $99.24 for the year while the low is $66.02. The stock, however, witnessed a rise in its short on 03/31/20. Compared to previous close which recorded 1.94 M shorted shares, the short percentage went lower by -14.52%, as 1.66M OIS shares were shorted. At the moment, only 3.87% of RLI Corp. shares were sold short. The company’s P/E ratio currently sits at 16.85, while the P/B ratio is 3.22. The company’s average trading volume currently stands at 282.27K shares, which means that the short-interest ratio is just 5.89 days. Over the past seven days, the company moved, with its shift of -12.88%. Looking further, the stock has dropped -24.02% over the past 90 days while it lost -26.82% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The SSgA Funds Management, Inc. sold more RLI shares, decreasing its portfolio by -1.15% during the last quarter. This move now sees The SSgA Funds Management, Inc. selling -58,335 shares in the last quarter, thus it now holds 5,025,232 shares of RLI, with a total valuation of $441,868,650. The Vanguard Group, Inc. meanwhile sold more RLI shares in the recently filed quarter, changing its stake to $386,725,021 worth of shares.

Similarly, BlackRock Fund Advisors decreased its RLI Corp. shares by 22.19% during the recently filed quarter. After selling 4,273,691 shares in the last quarter, the firm now controls -1,218,461 shares of RLI Corp. which are valued at $375,785,650. In the same vein, Kayne Anderson Rudnick Investment… decreased its RLI Corp. shares by during the most recent reported quarter. The firm sold 296 shares during the quarter which decreased its stakes to 2,003,963 shares and is now valued at $176,208,467. Following these latest developments, around 2.80% of RLI Corp. stocks are owned by institutional investors and hedge funds.

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