Foresters Investment Management Company Inc. lifted its holdings in Liberty Oilfield Services Inc (NYSE:LBRT) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,600 shares of the company’s stock after purchasing an additional 31,000 shares during the quarter. Foresters Investment Management Company Inc. owned 0.41% of Liberty Oilfield Services worth $7,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Liberty Oilfield Services during the second quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Liberty Oilfield Services in the second quarter worth about $69,000. NumerixS Investment Technologies Inc purchased a new stake in Liberty Oilfield Services in the first quarter worth about $90,000. Aperio Group LLC purchased a new stake in Liberty Oilfield Services in the second quarter worth about $109,000. Finally, Marshall Wace LLP increased its position in 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 buying an additional 4,425 shares in the last quarter.
In other Liberty Oilfield Services news, Director Energy Part Riverstone/Carlyle sold 8,000,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $14.61, for a total value of $116,880,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brett Staffieri sold 23,341 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $10.35, for a total transaction of $241,579.35. The disclosure for this sale can be found here. Corporate insiders own 6.19% of the company’s stock.
A number of brokerages have commented on LBRT. B. Riley began coverage on Liberty Oilfield Services in a research report on Friday, May 17th. They issued a “buy” rating and a $20.00 price target for the company. Wells Fargo & Co dropped their price objective on Liberty Oilfield Services from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday. Zacks Investment Research raised Liberty Oilfield Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 6th. TheStreet lowered Liberty Oilfield Services from a “c-” rating to a “d+” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley decreased their price objective on Liberty Oilfield Services from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $20.67.
LBRT traded up $0.09 on Friday, reaching $10.98. 11,336 shares of the stock were exchanged, compared to its average volume of 686,236. The company’s 50-day moving average price is $11.67 and its 200 day moving average price is $14.36. The firm has a market capitalization of $1.26 billion, a PE ratio of 6.17 and a beta of 2.38. Liberty Oilfield Services Inc has a fifty-two week low of $9.85 and a fifty-two week high of $23.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.80 and a quick ratio of 1.47.
Liberty Oilfield Services (NYSE:LBRT) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $542.15 million during the quarter, compared to analyst estimates of $532.21 million. As a group, equities analysts forecast that Liberty Oilfield Services Inc will post 1.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, September 5th. Liberty Oilfield Services’s dividend payout ratio is presently 11.05%.
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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