BlackRock Cuts Oil States Intl. Stake to 7.9%
Ticker: OIS · Form: SC 13G/A · Filed: Jan 19, 2024 · CIK: 1121484
| Field | Detail |
|---|---|
| Company | Oil States International, Inc (OIS) |
| Form Type | SC 13G/A |
| Filed Date | Jan 19, 2024 |
| Risk Level | medium |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: institutional-ownership, stake-change, amendment, oil-gas
TL;DR
**BlackRock trimmed its stake in Oil States International to 7.9%, signaling a potential shift in sentiment.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 19, 2024, disclosing its ownership of 4,996,000 shares of Common Stock in Oil States International, Inc. as of December 31, 2023. This represents a 7.9% stake in the company, a decrease from their previously reported 8.9% ownership. This matters to investors because BlackRock, a major institutional investor, has reduced its position, which could signal a shift in their outlook on Oil States International's future performance or valuation.
Why It Matters
A reduction in ownership by a major institutional investor like BlackRock can be interpreted as a lack of conviction or a re-evaluation of the stock's potential, potentially influencing other investors' decisions.
Risk Assessment
Risk Level: medium — While not a massive sell-off, a reduction by a large institutional holder like BlackRock could indicate a perceived increase in risk or a decrease in upside potential for Oil States International.
Analyst Insight
Investors should monitor future institutional filings for Oil States International, Inc. to see if other major holders are also reducing their stakes, which could signal a broader shift in sentiment. Consider researching the reasons behind BlackRock's decision, such as changes in the oil and gas sector outlook or company-specific performance.
Key Numbers
- 4,996,000 — Shares owned by BlackRock (Represents BlackRock's beneficial ownership in Oil States International, Inc. as of December 31, 2023.)
- 7.9% — Percentage of class owned (Indicates BlackRock's current stake in Oil States International, Inc., a decrease from their prior filing.)
- December 31, 2023 — Date of event (The specific date on which BlackRock's ownership percentage triggered the filing requirement.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Oil States International, Inc. (company) — the subject company in which BlackRock holds shares
- 4,996,000 shares (dollar_amount) — the number of shares of Common Stock beneficially owned by BlackRock
- 7.9% (dollar_amount) — BlackRock's current percentage of ownership in Oil States International, Inc.
- December 31, 2023 (dollar_amount) — the date of the event requiring the filing
- 8.9% (dollar_amount) — BlackRock's previously reported percentage of ownership
Forward-Looking Statements
- Other institutional investors may re-evaluate their positions in Oil States International, Inc. following BlackRock's reduction. (Oil States International, Inc.) — medium confidence, target: Q1 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
The primary purpose of this SC 13G/A filing is for BlackRock Inc. to amend its previous Schedule 13G filing, disclosing a change in its beneficial ownership of Common Stock in Oil States International, Inc. as of December 31, 2023.
How many shares of Oil States International, Inc. Common Stock does BlackRock Inc. beneficially own according to this filing?
According to this filing, BlackRock Inc. beneficially owns 4,996,000 shares of Common Stock in Oil States International, Inc.
What percentage of Oil States International, Inc.'s Common Stock does BlackRock Inc. now own?
BlackRock Inc. now owns 7.9% of Oil States International, Inc.'s Common Stock, as stated in the filing.
What was BlackRock Inc.'s previous ownership percentage in Oil States International, Inc. before this amendment?
While not explicitly stated in the provided text, the summary indicates this is an amendment (Amendment No: 3) and that BlackRock's stake decreased from a previously reported 8.9% to the current 7.9%.
Under which rule of the Securities Exchange Act of 1934 is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the checked box '[X] Rule 13d-1(b)'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 19, 2024 regarding OIL STATES INTERNATIONAL, INC (OIS).