Liberty Oilfield Services (LBRT) Trading 5% Higher
Shares of Liberty Oilfield Services Inc (NYSE:LBRT) traded up 5% during trading on Tuesday . The stock traded as high as $21.19 and last traded at $21.00. 986,247 shares changed hands during mid-day trading, an increase of 56% from the average session volume of 631,969 shares. The stock had previously closed at $20.00.
Several analysts have commented on the stock. Citigroup boosted their target price on shares of Liberty Oilfield Services from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded shares of Liberty Oilfield Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 21st. Piper Jaffray Companies reissued a “buy” rating and issued a $30.00 target price on shares of Liberty Oilfield Services in a research report on Thursday, August 9th. Morgan Stanley boosted their price objective on shares of Liberty Oilfield Services from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, August 6th. Finally, Tudor Pickering cut shares of Liberty Oilfield Services from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.44.
The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.22 and a current ratio of 2.52. The company has a market capitalization of $2.36 billion and a price-to-earnings ratio of 23.86.
The company also recently disclosed a special dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, September 6th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 5th. Liberty Oilfield Services’s payout ratio is 22.73%.
In other news, Director Energy Part Riverstone/Carlyle sold 2,491,160 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $18.96, for a total value of $47,232,393.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of large investors have recently added to or reduced their stakes in LBRT. Wells Fargo & Company MN acquired a new position in Liberty Oilfield Services during the 1st quarter valued at $16,013,000. Rhumbline Advisers acquired a new position in Liberty Oilfield Services during the 1st quarter valued at $223,000. American Century Companies Inc. acquired a new position in Liberty Oilfield Services during the 1st quarter valued at $1,698,000. Schwab Charles Investment Management Inc. acquired a new position in Liberty Oilfield Services during the 1st quarter valued at $745,000. Finally, American International Group Inc. acquired a new position in Liberty Oilfield Services during the 1st quarter valued at $160,000.
About Liberty Oilfield Services (NYSE:LBRT)
Liberty Oilfield Services Inc provides hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America. It provides 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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