Liberty Oilfield Services (LBRT) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Liberty Oilfield Services (NYSE:LBRT) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Liberty Oilfield Services Inc. is a provider of hydraulic fracturing services to onshore oil and natural gas exploration and production companies primarily in North America. Liberty Oilfield Services Inc. is based in DENVER, United States. “

Other analysts have also issued research reports about the company. Stifel Nicolaus started coverage on Liberty Oilfield Services in a report on Monday, September 10th. They issued a buy rating and a $21.00 target price on the stock. Citigroup upped their target price on Liberty Oilfield Services from $23.00 to $25.00 and gave the company a buy rating in a report on Friday, August 10th. Piper Jaffray Companies reissued a buy rating and issued a $30.00 target price on shares of Liberty Oilfield Services in a report on Thursday, August 9th. Wolfe Research started coverage on Liberty Oilfield Services in a report on Wednesday, October 10th. They issued an outperform rating on the stock. Finally, Morgan Stanley upped their target price on Liberty Oilfield Services from $25.00 to $27.00 and gave the company an overweight rating in a report on Monday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $27.89.

LBRT stock traded up $0.07 on Tuesday, reaching $20.35. 4,436 shares of the company’s stock were exchanged, compared to its average volume of 1,097,974. Liberty Oilfield Services has a twelve month low of $16.00 and a twelve month high of $23.90. The firm has a market capitalization of $2.48 billion and a PE ratio of 23.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.52 and a quick ratio of 2.22.

Liberty Oilfield Services (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.13. The business had revenue of $628.08 million for the quarter, compared to analyst estimates of $543.64 million. Equities research analysts expect that Liberty Oilfield Services will post 2.33 earnings per share for the current fiscal year.

The business also recently disclosed a special dividend, which was paid on Thursday, September 20th. Stockholders of record on Thursday, September 6th were given a $0.05 dividend. The ex-dividend date was Wednesday, September 5th. Liberty Oilfield Services’s dividend payout ratio is currently 22.73%.

In other news, Director Energy Part Riverstone/Carlyle sold 2,491,160 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $18.96, for a total value of $47,232,393.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Day sold 3,000,000 shares of the company’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $21.00, for a total value of $63,000,000.00. The disclosure for this sale can be found here.

Several large investors have recently modified their holdings of the company. Viking Fund Management LLC purchased a new stake in shares of Liberty Oilfield Services in the third quarter valued at $1,294,000. Energy Opportunities Capital Management LLC purchased a new position in Liberty Oilfield Services during the second quarter worth about $1,223,000. Putnam Investments LLC purchased a new position in Liberty Oilfield Services during the second quarter worth about $368,000. Marshall Wace LLP purchased a new position in Liberty Oilfield Services during the second quarter worth about $770,000. Finally, Bank of America Corp DE lifted its position in Liberty Oilfield Services by 7,661.0% during the second quarter. Bank of America Corp DE now owns 101,436 shares of the company’s stock worth $1,899,000 after buying an additional 100,129 shares during the period.

Liberty Oilfield Services Company Profile

Liberty Oilfield Services Inc provides hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America. It provides its services primarily in the Permian Basin, the Eagle Ford Shale, the Denver-Julesburg Basin, the Williston Basin, and the Powder River Basin.

Recommended Story: How to use beta for portfolio diversification

Get a free copy of the Zacks research report on Liberty Oilfield Services (LBRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Liberty Oilfield Services (NYSE:LBRT)

Receive News & Ratings for Liberty Oilfield Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Liberty Oilfield Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply