Liberty Oilfield Services Inc (NYSE:LBRT)’s share price shot up 8.1% on Monday . The stock traded as high as $12.42 and last traded at $12.05, 1,340,328 shares were traded during mid-day trading. An increase of 105% from the average session volume of 652,482 shares. The stock had previously closed at $11.15.
Several brokerages recently weighed in on LBRT. AltaCorp Capital restated an “outperform” rating on shares of Liberty Oilfield Services in a research note on Thursday, June 20th. ValuEngine lowered Liberty Oilfield Services from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Wells Fargo & Co cut their price target on Liberty Oilfield Services from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. TheStreet lowered Liberty Oilfield Services from a “c-” rating to a “d+” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley cut their price target on Liberty Oilfield Services from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $19.50.
The company has a 50 day simple moving average of $11.40 and a 200 day simple moving average of $14.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.47 and a current ratio of 1.80. The company has a market capitalization of $1.25 billion, a PE ratio of 6.24 and a beta of 2.39.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.20 annualized dividend and a yield of 1.77%. Liberty Oilfield Services’s dividend payout ratio (DPR) is currently 11.05%.
In other news, Director Brett Staffieri sold 23,341 shares of the business’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 transaction of $241,579.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Energy Part Riverstone/Carlyle sold 8,000,000 shares of the business’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 value of $116,880,000.00. The disclosure for this sale can be found here. 6.19% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $51,459,000. Nuveen Asset Management LLC acquired a new position in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $5,285,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $2,359,000. UBS Asset Management Americas Inc. acquired a new position in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $409,000. Finally, Marshall Wace LLP boosted its holdings in shares of Liberty Oilfield Services by 60.1% during the 2nd quarter. Marshall Wace LLP now owns 14,493 shares of the company’s stock worth $234,000 after purchasing an additional 5,443 shares during the last quarter.
Liberty Oilfield Services Company Profile (NYSE:LBRT)
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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