Liberty Oilfield Services (LBRT) Stock Rating Upgraded by Zacks Investment Research

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Liberty Oilfield Services (NYSE:LBRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

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. “

Several other brokerages have also recently commented on LBRT. Goldman Sachs Group initiated coverage on Liberty Oilfield Services in a research note on Sunday, March 10th. They issued a “neutral” rating and a $20.00 price target for the company. ValuEngine cut Liberty Oilfield Services from a “sell” rating to a “strong sell” rating in a research note on Friday, November 23rd. Cowen reissued a “market perform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Liberty Oilfield Services in a research note on Thursday, February 7th. Citigroup lowered their price target on Liberty Oilfield Services from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, November 29th. Finally, Barclays assumed coverage on Liberty Oilfield Services in a research note on Tuesday, March 12th. They issued an “overweight” rating and a $19.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $23.25.

Shares of NYSE LBRT opened at $14.74 on Thursday. The company has a market capitalization of $1.78 billion, a P/E ratio of 8.63 and a beta of 2.25. Liberty Oilfield Services has a 52 week low of $12.32 and a 52 week high of $23.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.10 and a quick ratio of 1.83.

Liberty Oilfield Services (NYSE:LBRT) last announced its quarterly earnings results on Tuesday, February 5th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.04). The firm had revenue of $473.12 million during the quarter, compared to the consensus estimate of $496.80 million. Liberty Oilfield Services had a net margin of 5.86% and a return on equity of 17.91%. As a group, equities analysts forecast that Liberty Oilfield Services will post 1.05 earnings per share for the current year.

In related news, CFO Michael Stock sold 40,815 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $17.03, for a total value of $695,079.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Day sold 1,500,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $16.03, for a total value of $24,045,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,646,471 shares of company stock valued at $26,551,981. Corporate insiders own 6.19% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Liberty Oilfield Services by 3.0% during the fourth quarter. FMR LLC now owns 6,156,284 shares of the company’s stock worth $79,724,000 after buying an additional 178,511 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Liberty Oilfield Services by 169.1% during the third quarter. BlackRock Inc. now owns 3,634,276 shares of the company’s stock worth $78,392,000 after buying an additional 2,283,611 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Liberty Oilfield Services by 144.8% during the third quarter. Vanguard Group Inc. now owns 2,769,980 shares of the company’s stock worth $59,748,000 after buying an additional 1,638,479 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Liberty Oilfield Services by 144.8% during the third quarter. Vanguard Group Inc now owns 2,769,980 shares of the company’s stock worth $59,748,000 after buying an additional 1,638,479 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Liberty Oilfield Services by 885.5% during the fourth quarter. Millennium Management LLC now owns 1,487,556 shares of the company’s stock worth $19,264,000 after buying an additional 1,336,610 shares during the last quarter.

About Liberty Oilfield Services

Liberty Oilfield Services Inc provides hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America. The company offers 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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