Zacks Investment Research Downgrades Liberty Oilfield Services (LBRT) to Strong Sell

Liberty Oilfield Services (NYSE:LBRT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

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 commented on LBRT. Morgan Stanley increased 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 increased 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. JPMorgan Chase & Co. decreased 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. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Liberty Oilfield Services in a research report on Thursday, August 9th. Finally, ValuEngine lowered shares of Liberty Oilfield Services from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $27.44.

Shares of Liberty Oilfield Services stock opened at $22.11 on Tuesday. The company has a market capitalization of $2.55 billion and a P/E ratio of 25.13. 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.

Liberty Oilfield Services (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.13. The company had revenue of $628.08 million during the quarter, compared to analysts’ expectations of $543.64 million. Analysts expect that Liberty Oilfield Services will post 2.34 EPS for the current fiscal year.

In other Liberty Oilfield Services news, 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 shares were sold at an average price of $18.96, for a total transaction of $47,232,393.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN acquired a new stake in shares of Liberty Oilfield Services during the 1st quarter worth approximately $16,013,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Liberty Oilfield Services during the 1st quarter worth approximately $745,000. American International Group Inc. acquired a new stake in shares of Liberty Oilfield Services during the 1st quarter worth approximately $160,000. Northern Trust Corp acquired a new stake in shares of Liberty Oilfield Services during the 1st quarter worth approximately $2,753,000. Finally, BlackRock Inc. acquired a new stake in shares of Liberty Oilfield Services during the 1st quarter worth approximately $25,770,000.

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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