Zacks Investment Research Lowers Liberty Oilfield Services (NYSE:LBRT) to Sell

Zacks Investment Research downgraded shares of Liberty Oilfield Services (NYSE:LBRT) from a hold rating to a sell rating in a research note issued to investors 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. “

Several other equities analysts have also issued reports on the company. B. Riley lowered their price target on Liberty Oilfield Services from $8.00 to $7.00 and set a buy rating for the company in a research report on Friday, May 1st. Bank of America upgraded shares of Liberty Oilfield Services from a neutral rating to a buy rating and set a $7.50 target price on the stock in a report on Thursday, May 28th. ValuEngine upgraded shares of Liberty Oilfield Services from a hold rating to a buy rating in a report on Monday, June 1st. Citigroup raised their target price on shares of Liberty Oilfield Services from $3.00 to $4.30 and gave the stock a neutral rating in a report on Tuesday, May 5th. Finally, Stifel Nicolaus lifted their price target on shares of Liberty Oilfield Services from $7.00 to $8.00 and gave the stock a buy rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $7.99.

Shares of Liberty Oilfield Services stock opened at $5.65 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.52 and a current ratio of 1.83. Liberty Oilfield Services has a 52-week low of $2.17 and a 52-week high of $14.50. The company’s 50 day moving average price is $5.91 and its 200-day moving average price is $5.67.

Liberty Oilfield Services (NYSE:LBRT) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. Liberty Oilfield Services had a negative net margin of 3.07% and a negative return on equity of 4.82%. The business had revenue of $472.34 million for the quarter, compared to analysts’ expectations of $404.43 million. Sell-side analysts anticipate that Liberty Oilfield Services will post -1.21 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. purchased a new stake in Liberty Oilfield Services during the first quarter worth about $3,178,000. Nuveen Asset Management LLC lifted its holdings in shares of Liberty Oilfield Services by 197.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,209,927 shares of the company’s stock worth $13,454,000 after buying an additional 803,252 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Liberty Oilfield Services by 1,297.3% during the fourth quarter. Bank of America Corp DE now owns 562,072 shares of the company’s stock worth $6,251,000 after buying an additional 521,847 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Liberty Oilfield Services by 1,006.8% during the fourth quarter. Renaissance Technologies LLC now owns 523,500 shares of the company’s stock worth $5,821,000 after buying an additional 476,200 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in shares of Liberty Oilfield Services during the second quarter worth approximately $2,468,000.

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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