Liberty Oilfield Services (NYSE:LBRT) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Liberty Oilfield Services (NYSE:LBRT) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

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. “

A number of other research firms have also recently issued reports on LBRT. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. AltaCorp Capital reaffirmed a sector perform rating on shares of STEP Energy Services in a report on Thursday, June 20th. B. Riley set a $2.00 price target on shares of Ascena Retail Group and gave the stock a hold rating in a report on Friday, May 17th. Finally, Barclays assumed coverage on shares of Liberty Oilfield Services in a report on Tuesday, March 12th. They issued an overweight rating and a $19.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $22.89.

LBRT traded up $0.28 during trading on Wednesday, hitting $14.96. The stock had a trading volume of 1,163,000 shares, compared to its average volume of 600,285. The stock has a market cap of $1.64 billion, a P/E ratio of 8.27 and a beta of 2.32. Liberty Oilfield Services has a twelve month low of $12.32 and a twelve month high of $23.51. The company has a quick ratio of 1.48, a current ratio of 1.75 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $14.39.

Liberty Oilfield Services (NYSE:LBRT) last announced its earnings results on Tuesday, April 30th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The company had revenue of $535.15 million during the quarter, compared to the consensus estimate of $502.55 million. Liberty Oilfield Services had a net margin of 5.50% and a return on equity of 16.35%. On average, sell-side analysts anticipate that Liberty Oilfield Services will post 1.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.20 annualized dividend and a dividend yield of 1.34%. Liberty Oilfield Services’s dividend payout ratio (DPR) is presently 11.05%.

In related news, President Ron Gusek sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $17.50, for a total transaction of $350,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Stock sold 61,309 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $17.00, for a total transaction of $1,042,253.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,309 shares of company stock valued at $2,923,153. 6.19% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of LBRT. Millennium Management LLC increased its holdings in Liberty Oilfield Services by 885.5% in the fourth quarter. Millennium Management LLC now owns 1,487,556 shares of the company’s stock valued at $19,264,000 after buying an additional 1,336,610 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Liberty Oilfield Services in the fourth quarter valued at $4,185,000. Bank of New York Mellon Corp increased its holdings in Liberty Oilfield Services by 216.0% in the fourth quarter. Bank of New York Mellon Corp now owns 427,730 shares of the company’s stock valued at $5,540,000 after buying an additional 292,368 shares in the last quarter. AI Financial Services LLC purchased a new position in Liberty Oilfield Services in the first quarter valued at $3,179,000. Finally, FMR LLC increased its holdings in Liberty Oilfield Services by 3.0% in the fourth quarter. FMR LLC now owns 6,156,284 shares of the company’s stock valued at $79,724,000 after buying an additional 178,511 shares in the last quarter.

About Liberty Oilfield Services

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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