Equities research analysts at The Goldman Sachs Group began coverage on shares of Liberty Oilfield Services (NYSE:LBRT) in a report released on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 20.82% from the stock’s current price.
A number of other research analysts also recently weighed in on LBRT. Citigroup upped their target price on Liberty Oilfield Services from $12.00 to $14.00 in a report on Monday, February 8th. Bank of America downgraded Liberty Oilfield Services from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $13.50 to $11.00 in a report on Monday, February 8th. TheStreet raised Liberty Oilfield Services from a “d” rating to a “c-” rating in a research report on Thursday, February 4th. Morgan Stanley boosted their price target on Liberty Oilfield Services from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 31st. Finally, Evercore ISI raised Liberty Oilfield Services from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $12.00 to $15.00 in a research report on Wednesday, January 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Liberty Oilfield Services currently has a consensus rating of “Hold” and an average price target of $12.25.
Shares of NYSE:LBRT opened at $14.07 on Wednesday. Liberty Oilfield Services has a 1 year low of $4.72 and a 1 year high of $14.78. The company has a market cap of $2.54 billion, a PE ratio of -12.91 and a beta of 3.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.03 and a quick ratio of 1.57. The stock’s 50-day moving average is $11.85 and its 200 day moving average is $11.23.
Liberty Oilfield Services (NYSE:LBRT) last posted its earnings results on Tuesday, April 27th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. Liberty Oilfield Services had a negative return on equity of 11.01% and a negative net margin of 8.20%. The firm had revenue of $552.03 million for the quarter, compared to the consensus estimate of $490.64 million. Analysts expect that Liberty Oilfield Services will post -1.34 EPS for the current fiscal year.
In related news, President Ron Gusek sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $11.38, for a total value of $284,500.00. Following the transaction, the president now directly owns 1,457,101 shares of the company’s stock, valued at approximately $16,581,809.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP R Sean Elliott sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $13.00, for a total value of $78,000.00. Insiders sold a total of 7,583,553 shares of company stock worth $98,629,867 over the last ninety days. 8.50% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Liberty Oilfield Services by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,320,684 shares of the company’s stock valued at $13,616,000 after buying an additional 144,011 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Liberty Oilfield Services during the 4th quarter valued at $285,000. Panagora Asset Management Inc. purchased a new stake in Liberty Oilfield Services during the 4th quarter valued at $213,000. Nuveen Asset Management LLC raised its stake in Liberty Oilfield Services by 40.7% during the 4th quarter. Nuveen Asset Management LLC now owns 392,128 shares of the company’s stock valued at $4,043,000 after buying an additional 113,413 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in Liberty Oilfield Services by 15.4% during the 4th quarter. Guggenheim Capital LLC now owns 27,552 shares of the company’s stock valued at $284,000 after buying an additional 3,670 shares during the last quarter.
About Liberty Oilfield Services
Liberty Oilfield Services Inc provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. The company also offers hydraulic fracturing pressure pumping services, including pressure pumping and pumpdown perforating services; and operates two sand mines in the Permian Basin.
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