Liberty Oilfield Services Inc. (NYSE: LBRT) receives consensus recommendation to “keep” from analysts
Liberty Oilfield Services Inc. (NYSE: LBRT) has been given a consensus recommendation to “Keep” from the sixteen research companies that cover the company, Marketbeat reports. One analyst gave the stock a sell rating, five assigned a conservation rating, and six assigned a buy rating to the company. The one-year average price target among analysts who reported on the stock in the past year is $ 12.81.
LBRT has been the subject of a number of recent research reports. The Goldman Sachs Group launched a cover on Liberty Oilfield Services in a research note on Thursday, May 13. They set a “buy” rating and a price target of $ 17.00 for the stock. Morgan Stanley increased its price target on Liberty Oilfield Services from $ 15.00 to $ 17.00 and rated the stock “overweight” in a research note on Friday. Bank of America upgraded Liberty Oilfield Services from an “underperformance” rating to a “neutral” rating and set a target price of $ 15.75 on the stock in a research note on Monday, June 21. To finish, Zacks investment research changed Liberty Oilfield Services from a “sell” note to a “conservation” note in a Wednesday March 17th research note.
Separately, Director Energy Part Riverstone / Carlyle sold 12,299,996 shares of the company in a trade on Thursday, June 10. The stock was sold for an average price of $ 15.20, for a total value of $ 186,959,939.20. The transaction was disclosed in a file with the SEC, which can be accessed via this link. In addition, CEO Christopher A. Wright sold 10,000 shares of the company in a trade on Wednesday, April 28. The shares were sold for an average price of $ 12.12, for a total value of $ 121,200.00. Following the closing of the sale, the CEO now owns 3,804,752 shares of the company, valued at approximately $ 46,113,594.24. Disclosure of this sale can be found here. Insiders sold a total of 12,538,096 shares of the company valued at $ 190,414,684 during the last quarter. Company insiders own 4.20% of the company’s shares.
A number of hedge funds and other institutional investors have recently changed their holdings in the company. Aperio Group LLC increased its stake in Liberty Oilfield Services by 3.6% in the 4th quarter. Aperio Group LLC now owns 39,961 shares of the company valued at $ 412,000 after purchasing an additional 1,392 shares during the period. The Manufacturers Life Insurance Company increased its ownership interest in Liberty Oilfield Services by 5.4% during the first quarter. The Manufacturers Life Insurance Company now owns 48,121 shares of the company valued at $ 543,000 after purchasing 2,464 additional shares during the period. Guggenheim Capital LLC increased its stake in Liberty Oilfield Services by 15.4% during the 4th quarter. Guggenheim Capital LLC now owns 27,552 shares of the company valued at $ 284,000 after purchasing an additional 3,670 shares during the period. American International Group Inc. increased its stake in Liberty Oilfield Services by 10.9% in the 4th quarter. American International Group Inc. now owns 43,052 shares of the company valued at $ 444,000 after purchasing an additional 4,229 shares during the period. Finally, Marshall Wace LLP increased its stake in Liberty Oilfield Services by 95.7% during the first quarter. Marshall Wace LLP now owns 9,050 shares of the company valued at $ 139,000 after purchasing an additional 4,425 shares during the period. Institutional investors hold 58.67% of the company’s shares.
NYSE LBRT opened at $ 13.89 on Friday. The fifty-day moving average for the stock is $ 14.62. The company has a market cap of $ 2.50 billion, a price-to-earnings ratio of -8.79 and a beta of 3.13. The company has a debt ratio of 0.09, a current ratio of 1.48, and a quick ratio of 1.15. Liberty Oilfield Services has a 52 week minimum of $ 4.91 and a 52 week maximum of $ 17.78.
Liberty Oilfield Services (NYSE: LBRT) last released its quarterly earnings data on Tuesday, April 27. The company reported ($ 0.21) earnings per share for the quarter, beating Zacks’ consensus estimate ($ 0.26) by $ 0.05. The company posted revenue of $ 552.03 million for the quarter, compared to analysts’ estimates of $ 490.64 million. Liberty Oilfield Services recorded a negative return on equity of 13.54% and a negative net margin of 14.49%. On average, equity research analysts forecast Liberty Oilfield Services to post earnings per share of -0.38 for the current fiscal year.
Liberty Oilfield Services Company Profile
Liberty Oilfield Services Inc provides hydraulic fracturing and cable services, and related products, to onshore oil and natural gas exploration and production companies in North America. The company also offers hydraulic fracturing pressure pumping services, including pressure pumping and pump perforation services; and operates two sand mines in the Permian Basin.
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