Liberty Oilfield Services (LBRT) Shares Down 7.1%

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Liberty Oilfield Services Inc (NYSE:LBRT) dropped 7.1% during trading on Friday . The company traded as low as $14.74 and last traded at $14.74. Approximately 530,365 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 575,967 shares. The stock had previously closed at $15.87.

LBRT has been the subject of several recent analyst reports. Goldman Sachs Group initiated coverage on Liberty Oilfield Services in a report on Sunday, March 10th. They issued a “neutral” rating and a $20.00 price target for the company. 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 report on Thursday, November 29th. Cowen restated a “market perform” rating and issued a $16.00 price target (down from $18.00) on shares of Liberty Oilfield Services in a report on Thursday, February 7th. Barclays initiated coverage on Liberty Oilfield Services in a report on Tuesday, March 12th. They issued an “overweight” rating and a $19.00 price target for the company. Finally, ValuEngine upgraded Liberty Oilfield Services from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Liberty Oilfield Services has an average rating of “Hold” and a consensus price target of $23.25.

The firm has a market capitalization of $1.66 billion, a PE ratio of 8.14 and a beta of 2.25. 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 posted its quarterly earnings data on Tuesday, February 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.04). The firm had revenue of $473.12 million for the quarter, compared to the consensus estimate of $496.80 million. Liberty Oilfield Services had a return on equity of 17.91% and a net margin of 5.86%. On average, equities analysts forecast that Liberty Oilfield Services Inc will post 1.05 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.36%. Liberty Oilfield Services’s payout ratio is presently 11.05%.

In other news, insider Robert Day sold 1,500,000 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ron Gusek sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $17.63, for a total value of $440,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,646,471 shares of company stock valued at $26,551,981. 6.19% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LBRT. BlackRock Inc. lifted its position in shares of Liberty Oilfield Services by 169.1% in the third quarter. BlackRock Inc. now owns 3,634,276 shares of the company’s stock valued at $78,392,000 after buying an additional 2,283,611 shares during the last quarter. FMR LLC lifted its holdings in Liberty Oilfield Services by 38.2% during the 3rd quarter. FMR LLC now owns 5,977,773 shares of the company’s stock worth $128,940,000 after purchasing an additional 1,653,623 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Liberty Oilfield Services by 144.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,769,980 shares of the company’s stock worth $59,748,000 after purchasing an additional 1,638,479 shares during the last quarter. Vanguard Group Inc lifted its holdings in Liberty Oilfield Services by 144.8% during the 3rd quarter. Vanguard Group Inc now owns 2,769,980 shares of the company’s stock worth $59,748,000 after purchasing an additional 1,638,479 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Liberty Oilfield Services by 885.5% during the 4th quarter. Millennium Management LLC now owns 1,487,556 shares of the company’s stock worth $19,264,000 after purchasing an additional 1,336,610 shares during the last quarter.

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Liberty Oilfield Services Company Profile (NYSE:LBRT)

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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