Liberty Oilfield Services (LBRT) Trading Down 6.8%
Shares of Liberty Oilfield Services Inc (NYSE:LBRT) were down 6.8% during trading on Friday . The stock traded as low as $18.83 and last traded at $18.91. Approximately 980,904 shares were traded during trading, an increase of 43% from the average daily volume of 687,981 shares. The stock had previously closed at $20.28.
Several analysts recently commented on LBRT shares. Citigroup dropped their price target 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. Zacks Investment Research cut Liberty Oilfield Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 19th. Capital One Financial restated an “overweight” rating on shares of Liberty Oilfield Services in a report on Wednesday, July 25th. Morgan Stanley upped their target price on Liberty Oilfield Services from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 6th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $30.00 target price on shares of Liberty Oilfield Services in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.89.
The company has a debt-to-equity ratio of 0.14, a current ratio of 2.52 and a quick ratio of 2.22. The firm has a market cap of $2.48 billion and a PE ratio of 21.49.
The business also recently announced 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 was Wednesday, September 5th. Liberty Oilfield Services’s payout ratio is currently 22.73%.
In other news, insider Robert Day sold 3,000,000 shares of the company’s stock in a transaction 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 document filed with the SEC, which is available at the SEC website. Also, Director Energy Part Riverstone/Carlyle sold 2,491,160 shares of the company’s stock in a transaction 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.
Several institutional investors have recently made changes to their positions in LBRT. Sei Investments Co. lifted its stake in shares of Liberty Oilfield Services by 70.9% in the 2nd quarter. Sei Investments Co. now owns 8,764 shares of the company’s stock valued at $164,000 after purchasing an additional 3,637 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Liberty Oilfield Services in the 1st quarter valued at $183,000. GSA Capital Partners LLP acquired a new position in shares of Liberty Oilfield Services in the 1st quarter valued at $208,000. MetLife Investment Advisors LLC acquired a new position in shares of Liberty Oilfield Services in the 1st quarter valued at $214,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Liberty Oilfield Services in the 2nd quarter valued at $218,000.
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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