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

Zacks Investment Research cut shares of Liberty Oilfield Services (NYSE:LBRT) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, 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 equities research analysts also recently issued reports on LBRT. B. Riley set a $2.00 price target on Ascena Retail Group and gave the company a hold rating in a research report on Friday, May 17th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. AltaCorp Capital reaffirmed a sector perform rating on shares of STEP Energy Services in a research report on Thursday, June 20th. Finally, Barclays assumed coverage on Liberty Oilfield Services in a research report on Tuesday, March 12th. They issued an overweight rating and a $19.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $22.11.

Liberty Oilfield Services stock opened at $15.04 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.75 and a quick ratio of 1.48. The firm has a market capitalization of $1.69 billion, a P/E ratio of 8.64 and a beta of 2.32. Liberty Oilfield Services has a one year low of $12.32 and a one year high of $23.51. The stock’s fifty day simple moving average is $14.41.

Liberty Oilfield Services (NYSE:LBRT) last posted its earnings results on Tuesday, April 30th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The firm had revenue of $535.15 million for 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%. Equities research analysts forecast that Liberty Oilfield Services will post 1.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Wednesday, June 5th. Liberty Oilfield Services’s dividend payout ratio is currently 11.05%.

In related news, CFO Michael Stock sold 90,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $17.01, for a total value of $1,530,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Energy Part Riverstone/Carlyle sold 8,000,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $14.61, for a total transaction of $116,880,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,171,309 shares of company stock worth $119,803,153. 6.19% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc bought a new stake in shares of Liberty Oilfield Services in the first quarter valued at about $90,000. Marshall Wace LLP lifted 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 valued at $139,000 after buying an additional 4,425 shares during the period. QS Investors LLC bought a new stake in shares of Liberty Oilfield Services in the fourth quarter valued at about $133,000. BNP Paribas Arbitrage SA lifted its stake in shares of Liberty Oilfield Services by 810.1% in the first quarter. BNP Paribas Arbitrage SA now owns 10,339 shares of the company’s stock valued at $159,000 after buying an additional 9,203 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of Liberty Oilfield Services in the first quarter valued at about $205,000.

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. 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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