Liberty Oilfield Services (NYSE:LBRT) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Liberty Oilfield Services (NYSE:LBRT) from a strong sell rating to a hold rating in a report issued on Tuesday, 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. “

Several other analysts have also recently weighed in on LBRT. Wells Fargo & Co reduced their price objective on shares of Liberty Oilfield Services from $20.00 to $17.00 and set an outperform rating on the stock in a research note on Thursday, September 12th. Bank of America began coverage on shares of Liberty Oilfield Services in a report on Wednesday, October 23rd. They issued a neutral rating and a $10.00 target price on the stock. Barclays restated a buy rating and issued a $16.00 target price on shares of Liberty Oilfield Services in a report on Thursday, October 17th. ValuEngine upgraded shares of Liberty Oilfield Services from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, Citigroup dropped their target price on shares of Liberty Oilfield Services from $16.00 to $12.00 and set a neutral rating on the stock in a report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $16.13.

NYSE:LBRT opened at $9.02 on Tuesday. The stock’s fifty day moving average price is $9.68 and its two-hundred day moving average price is $12.66. Liberty Oilfield Services has a 52-week low of $8.13 and a 52-week high of $20.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.61 and a current ratio of 1.95. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 4.98 and a beta of 2.32.

Liberty Oilfield Services (NYSE:LBRT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.12). Liberty Oilfield Services had a return on equity of 9.20% and a net margin of 3.40%. The firm had revenue of $515.08 million for the quarter, compared to analyst estimates of $522.04 million. On average, equities analysts predict that Liberty Oilfield Services will post 0.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.20 annualized dividend and a yield of 2.22%. Liberty Oilfield Services’s dividend payout ratio (DPR) is 11.05%.

In related news, Director Brett Staffieri sold 23,341 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $10.35, for a total transaction of $241,579.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.19% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in Liberty Oilfield Services in the second quarter valued at approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Liberty Oilfield Services in the second quarter worth $69,000. Meeder Asset Management Inc. bought a new stake in shares of Liberty Oilfield Services in the third quarter worth $63,000. Aperio Group LLC bought a new stake in shares of Liberty Oilfield Services in the second quarter worth $109,000. Finally, Marshall Wace LLP grew its stake in shares of Liberty Oilfield Services by 95.7% in the first quarter. Marshall Wace LLP now owns 9,050 shares of the company’s stock worth $139,000 after purchasing an additional 4,425 shares during 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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