Liberty Oilfield Services (LBRT) Shares Up 6.3%

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Liberty Oilfield Services Inc (NYSE:LBRT)’s share price shot up 6.3% during trading on Tuesday . The stock traded as high as $18.21 and last traded at $18.04. 828,300 shares were traded during mid-day trading, an increase of 20% from the average session volume of 689,315 shares. The stock had previously closed at $16.97.

Several research firms have commented on LBRT. Citigroup dropped their target price on Liberty Oilfield Services from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, July 9th. Stifel Nicolaus began coverage on Liberty Oilfield Services in a research report on Monday, September 10th. They issued a “buy” rating and a $21.00 target price for the company. Zacks Investment Research downgraded Liberty Oilfield Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 21st. Capital One Financial reiterated an “overweight” rating on shares of Liberty Oilfield Services in a research report on Wednesday, July 25th. Finally, ValuEngine downgraded Liberty Oilfield Services from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $27.22.

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.22 and a current ratio of 2.52.

Liberty Oilfield Services (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.13. The company had revenue of $628.08 million for the quarter, compared to the consensus estimate of $543.64 million. As a group, analysts anticipate that Liberty Oilfield Services Inc will post 2.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, December 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.11%. Liberty Oilfield Services’s dividend payout ratio (DPR) is 22.73%.

In related news, insider Robert Day sold 3,000,000 shares of the firm’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 transaction of $63,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Energy Part Riverstone/Carlyle sold 2,491,160 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Viking Fund Management LLC acquired a new stake in Liberty Oilfield Services during the third quarter worth approximately $1,294,000. Energy Opportunities Capital Management LLC acquired a new stake in Liberty Oilfield Services during the second quarter worth approximately $1,223,000. Putnam Investments LLC acquired a new stake in Liberty Oilfield Services during the second quarter worth approximately $368,000. Marshall Wace LLP acquired a new stake in Liberty Oilfield Services during the second quarter worth approximately $770,000. Finally, Bank of America Corp DE grew its stake 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 purchasing an additional 100,129 shares during the period.

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. 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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