Riverstone Holdings LLC lessened its stake in shares of Liberty Oilfield Services Inc (NYSE:LBRT) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,804,996 shares of the company’s stock after selling 8,000,000 shares during the period. Liberty Oilfield Services accounts for approximately 29.0% of Riverstone Holdings LLC’s portfolio, making the stock its 2nd biggest position. Riverstone Holdings LLC owned about 35.37% of Liberty Oilfield Services worth $431,088,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. LGT Capital Partners LTD. raised its holdings in Liberty Oilfield Services by 55.6% in the 3rd quarter. LGT Capital Partners LTD. now owns 196,000 shares of the company’s stock valued at $2,123,000 after buying an additional 70,000 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Liberty Oilfield Services during the second quarter worth about $51,459,000. Nuveen Asset Management LLC acquired a new position in shares of Liberty Oilfield Services during the second quarter worth about $5,285,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Liberty Oilfield Services during the second quarter worth about $2,359,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Liberty Oilfield Services during the second quarter worth about $409,000.
In other news, Director Energy Part Riverstone/Carlyle sold 8,000,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $14.61, for a total transaction of $116,880,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brett Staffieri sold 23,341 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $10.35, for a total value of $241,579.35. The disclosure for this sale can be found here. 6.19% of the stock is currently owned by insiders.
NYSE LBRT traded down $0.68 on Wednesday, reaching $9.45. The stock had a trading volume of 36,965 shares, compared to its average volume of 683,853. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.47 and a current ratio of 1.80. Liberty Oilfield Services Inc has a 12-month low of $9.76 and a 12-month high of $22.58. The business’s 50-day moving average price is $10.74 and its 200 day moving average price is $13.70. The stock has a market cap of $1.14 billion, a P/E ratio of 5.22 and a beta of 2.38.
Liberty Oilfield Services (NYSE:LBRT) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.05. Liberty Oilfield Services had a return on equity of 12.43% and a net margin of 4.42%. The company had revenue of $542.15 million during the quarter, compared to analysts’ expectations of $532.21 million. On average, sell-side analysts predict that Liberty Oilfield Services Inc will post 1.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, September 5th. Liberty Oilfield Services’s dividend payout ratio is currently 11.05%.
A number of brokerages recently issued reports on LBRT. Morgan Stanley lowered their price target on Liberty Oilfield Services from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Monday. TheStreet downgraded Liberty Oilfield Services from a “c-” rating to a “d+” rating in a report on Thursday, August 22nd. Wells Fargo & Co lowered their price target on Liberty Oilfield Services from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Zacks Investment Research downgraded Liberty Oilfield Services from a “hold” rating to a “strong sell” rating in a report on Wednesday. Finally, ValuEngine raised Liberty Oilfield Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Liberty Oilfield Services has an average rating of “Buy” and an average price target of $18.38.
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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