Liberty Oilfield Services (LBRT) Stock Price Down 6.8%

Liberty Oilfield Services Inc (NYSE:LBRT) dropped 6.8% during trading on Friday . The company traded as low as $18.83 and last traded at $18.91. Approximately 980,904 shares changed hands during trading, an increase of 43% from the average daily volume of 687,981 shares. The stock had previously closed at $20.28.

LBRT has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on Liberty Oilfield Services from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th. Citigroup decreased their target price on Liberty Oilfield Services from $26.00 to $23.00 and set a “buy” rating for the company in a report on Monday, July 9th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $30.00 target price on shares of Liberty Oilfield Services in a report on Thursday, August 9th. Zacks Investment Research raised Liberty Oilfield Services from a “strong sell” rating to a “hold” rating in a report on Thursday, August 30th. Finally, Wolfe Research initiated coverage on Liberty Oilfield Services in a report on Wednesday, October 10th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Liberty Oilfield Services currently has a consensus rating of “Buy” and an average target price of $27.89.

The firm has a market cap of $2.48 billion and a PE ratio of 21.49. 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 results on Wednesday, August 1st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.13. The company had revenue of $628.08 million during the quarter, compared to analyst estimates of $543.64 million. On average, research analysts anticipate that Liberty Oilfield Services Inc will post 2.33 EPS for the current fiscal year.

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

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

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Liberty Oilfield Services during the 1st quarter worth approximately $25,770,000. American Century Companies Inc. raised its stake in shares of Liberty Oilfield Services by 72.7% during the 2nd quarter. American Century Companies Inc. now owns 173,674 shares of the company’s stock worth $3,251,000 after buying an additional 73,137 shares during the period. Legal & General Group Plc acquired a new position in shares of Liberty Oilfield Services during the 1st quarter worth approximately $839,000. Energy Opportunities Capital Management LLC acquired a new position in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $1,223,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $218,000.

About Liberty Oilfield Services (NYSE:LBRT)

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.

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