Liberty Oilfield Services (LBRT) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research began coverage on shares of Liberty Oilfield Services (NYSE:LBRT) in a report published on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating on the stock.

A number of other research firms have also recently commented on LBRT. Morgan Stanley upped their price objective on shares of Liberty Oilfield Services from $25.00 to $27.00 and gave the company an overweight rating in a research report on Monday, August 6th. Citigroup upped their price objective on shares of Liberty Oilfield Services from $23.00 to $25.00 and gave the company a buy rating in a research report on Friday, August 10th. Zacks Investment Research upgraded shares of Liberty Oilfield Services from a strong sell rating to a hold rating in a research report on Thursday, August 30th. Stifel Nicolaus upped their price objective on shares of Liberty Oilfield Services from $21.00 to $25.00 and gave the company a buy rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Liberty Oilfield Services from $31.00 to $30.00 and set an overweight rating for the company in a research report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. Liberty Oilfield Services has a consensus rating of Buy and an average target price of $27.89.

Shares of LBRT traded down $0.32 during trading hours on Wednesday, reaching $20.08. The stock had a trading volume of 635,062 shares, compared to its average volume of 686,720. The company has a quick ratio of 2.22, a current ratio of 2.52 and a debt-to-equity ratio of 0.14. Liberty Oilfield Services has a 52 week low of $16.00 and a 52 week high of $23.90. The stock has a market cap of $2.55 billion and a P/E ratio of 22.82.

Liberty Oilfield Services (NYSE:LBRT) last released its quarterly earnings data on Wednesday, August 1st. The company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.13. The firm had revenue of $628.08 million during the quarter, compared to the consensus estimate of $543.64 million. On average, equities research analysts expect that Liberty Oilfield Services will post 2.34 earnings per share for the current fiscal year.

The company also recently announced a special dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, September 6th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 5th. Liberty Oilfield Services’s dividend payout ratio (DPR) is presently 22.73%.

In other news, insider Robert Day sold 3,000,000 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Energy Part Riverstone/Carlyle sold 2,491,160 shares of the firm’s stock in a transaction dated 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 hedge funds and other institutional investors have recently made changes to their positions in the company. Viking Fund Management LLC bought a new position in shares of Liberty Oilfield Services in the 3rd quarter valued at about $1,294,000. Energy Opportunities Capital Management LLC acquired a new stake in Liberty Oilfield Services in the 2nd quarter valued at about $1,223,000. Putnam Investments LLC acquired a new stake in Liberty Oilfield Services in the 2nd quarter valued at about $368,000. Marshall Wace LLP acquired a new stake in Liberty Oilfield Services in the 2nd quarter valued at about $770,000. Finally, Bank of America Corp DE lifted its stake in Liberty Oilfield Services by 7,661.0% in the 2nd quarter. Bank of America Corp DE now owns 101,436 shares of the company’s stock valued at $1,899,000 after purchasing an additional 100,129 shares during the last quarter.

Liberty Oilfield Services Company Profile

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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Analyst Recommendations for Liberty Oilfield Services (NYSE:LBRT)

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