Jana Partners Further Reduces Exposure To Oil States International, Inc. (OIS)

Barry Rosenstein, the manager of Jana Partners, has further decreased his fund’s stake in Oil States International, Inc. (NYSE:OIS), according to a recent filing with the Securities and Exchange Commission. Jana Partners now holds 2.6 million shares or 4.9% of the common stock. Earlier this month, Rosenstein and Jana Partners have decreased their holding of the stock from 6.12 million to 4.57 million shares.

Barry Rosenstein JANA PARTNERS

Alexander Roepers, the manager of Atlantic Investment Management, is actually bullish on Oil States International, Inc. (NYSE:OIS) and has increased his fund’s holding of the stock by 29% to 2.47 million shares during the first quarter of 2014. David Einhorn and Chuck Royce are also keeping tabs on this stock. Einhorn’s fund, Greenlight Capital, owns 2.75 million shares, while Royce & Associates has reported ownership of 1.34 million shares in its latest 13F filing.

A provider of specialty products and services to natural resources companies Oil States International, Inc. (NYSE:OIS) has a market cap of $3.35 billion and does not pay a dividend. The stock is up 9% for the year, currently trading at $63.05 per share and carries a trailing Price to Earnings (P/E) ratio of 8.98, which is significantly lower than the industry average of 24.50. Oil States International posted revenues of $658 million and earnings of $1.33 per share for the first quarter of 2014. Current quarter is expected to bring $492 million in revenues and earnings per share of $0.89. The stock is mainly touted as a Hold.

In a recent move, Rosenstein and Jana Partners have gone activist on Civeo Corp (NYSE:CVEO), having disclosed a 11.5% stake in the company. Civeo is a spin-off from Oil States International, Inc. (NYSE:OIS) and Jana Partners holds approximately 12.2 million shares. Rosenstein has also been busy offloading Outerwall Inc (NASDAQ:OUTR) shares, reducing the fund’s stake to approximately 997,000 shares or 4.9% of the total number of shares outstanding. Jana Partner’s top equity holding continues to be Walgreen Company (NYSE:WAG), with the fund owning 12.1 million shares.

Disclosure: none.

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