Barry Rosenstein’s Jana Partners Reduces Exposure To Oil States International Inc. (OIS)

Jana Partners, managed by Barry Rosenstein, has reduced its stake in Oil States International Inc. (NYSE:OIS). A new filing with the U.S. Securities and Exchange Commission showed that Jana Partners owns 4.57 million shares, down from 6.12 million shares disclosed at the end of March 2014. The fund sold around 1.55 million shares of the company in a multiple transactions for an average price of $64.28 apiece. The new stake is equal to 8.6% of the outstanding common stock.

Barry Rosenstein JANA PARTNERS

Oil States International Inc. (NYSE:OIS) is engaged in manufacturing of products for deepwater production facilities and certain drilling equipment. The company, which has a market cap of $3.33 billion, also provides completion services and land drilling services to the oil and gas industry. On June 9, the company’s stock fell over 3% to $62.50. Analysts have the consensus average target price of $85.50, while the consensus average recommendation is ‘Overweight.’

Last week, Oil States International Inc. (NYSE:OIS) recently has completed the spin-off of its accommodations business Civeo Corp (NYSE:CVEO) through the distribution of all the shares of Civeo common stock to the holders of Oil States common stock. The spin-off became effective at the end of May.

For first-quarter 2014, Oil States International Inc. (NYSE:OIS) reported net income from continuing operations of $71.3 million, or $1.32 per diluted share, compared to net income from continuing operations of $93.2 million, or $1.69 per diluted share, reported in the first quarter of 2013. Revenues were $658.0 million during the first quarter, compared to $675.5 million reported in the 2013 quarter.

Other largest shareholders of the company include David Einhorn’s Greenlight Capital, which owns 2.75 million shares, and Alexander Roepers’ Atlantic Investment Management, which holds 2.47 million shares.

In April, Jana Partners reported reducing its exposure to Outerwall Inc (NASDAQ:OUTR) from 1.72 million to about 997,000 shares.

Disclosure: none

Recommended Reading:

Carl Icahn Acquires Over 9% Stake in Family Dollar Stores Inc. (FDO); Seeking Dialogue To Enhance Value

Hedge Fund Highlights: Warren Buffett, Ray Dalio & Chris Hohn

Hedge Fund News: Edward Lampert, Barry Rosenstein & Farallon Capital

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Bloodiest UFC Fights Ever Fought

Most Expensive Rum Brands in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!