Liberty Oilfield Services (NYSE:LBRT) Downgraded by Zacks Investment Research to “Sell”


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Zacks Investment Research cut shares of Liberty Oilfield Services (NYSE:LBRT) from a hold rating to a sell rating in a report released 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 equities analysts have also recently weighed in on LBRT. ValuEngine raised shares of Liberty Oilfield Services from a buy rating to a strong-buy rating in a research report on Thursday, October 1st. Barclays raised shares of Liberty Oilfield Services from an equal weight rating to an overweight rating and increased their price objective for the stock from $3.00 to $10.00 in a research report on Monday, October 5th. BidaskClub raised shares of Liberty Oilfield Services from a hold rating to a buy rating in a research report on Thursday, January 7th. Piper Sandler raised their price target on shares of Liberty Oilfield Services from $7.50 to $8.00 and gave the company a neutral rating in a research report on Thursday, December 24th. They noted that the move was a valuation call. Finally, Scotiabank cut shares of Liberty Oilfield Services from a sector outperform rating to a sector perform rating and set a $8.00 price target for the company. in a research report on Tuesday, October 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $9.38.

NYSE:LBRT opened at $12.17 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.57 and a current ratio of 2.03. The stock has a market capitalization of $1.37 billion, a P/E ratio of -11.17 and a beta of 3.30. The company has a 50 day moving average price of $10.90 and a 200 day moving average price of $8.23. Liberty Oilfield Services has a fifty-two week low of $2.17 and a fifty-two week high of $13.04.

Liberty Oilfield Services (NYSE:LBRT) last posted its quarterly earnings data on Tuesday, October 27th. The company reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.03. The firm had revenue of $147.50 million during the quarter, compared to analysts’ expectations of $127.92 million. Liberty Oilfield Services had a negative net margin of 8.20% and a negative return on equity of 11.01%. Research analysts forecast that Liberty Oilfield Services will post -1.34 earnings per share for the current fiscal year.

In other Liberty Oilfield Services news, President Ron Gusek sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 4th. The shares were sold at an average price of $10.96, for a total value of $109,600.00. Following the completion of the transaction, the president now directly owns 1,417,010 shares in the company, valued at $15,530,429.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Stock sold 43,000 shares of the firm’s stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $10.37, for a total transaction of $445,910.00. Following the completion of the transaction, the chief financial officer now owns 1,417,977 shares of the company’s stock, valued at $14,704,421.49. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its holdings in Liberty Oilfield Services by 42.0% in the third quarter. Public Employees Retirement System of Ohio now owns 4,127 shares of the company’s stock worth $33,000 after purchasing an additional 1,221 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Liberty Oilfield Services during the 3rd quarter worth approximately $41,000. Engineers Gate Manager LP purchased a new position in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $66,000. Cubist Systematic Strategies LLC purchased a new position in shares of Liberty Oilfield Services during the 3rd quarter worth approximately $79,000. Finally, Stifel Financial Corp purchased a new position in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $110,000.

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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