Energy Part Riverstone/Carlyle Sells 5,750,000 Shares of Liberty Oilfield Services Inc (NYSE:LBRT) Stock

Liberty Oilfield Services Inc (NYSE:LBRT) Director Energy Part Riverstone/Carlyle sold 5,750,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $9.02, for a total value of $51,865,000.00.

Shares of NYSE LBRT traded up $0.31 during trading hours on Wednesday, reaching $8.89. 481,335 shares of the stock traded hands, compared to its average volume of 740,456. The company has a market capitalization of $994.70 million, a P/E ratio of 4.91 and a beta of 2.26. The company has a quick ratio of 1.61, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. Liberty Oilfield Services Inc has a 52-week low of $7.89 and a 52-week high of $17.70. The company’s 50-day simple moving average is $8.89 and its two-hundred day simple moving average is $11.76.

Liberty Oilfield Services (NYSE:LBRT) last posted its earnings results on Tuesday, October 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.12). The business had revenue of $515.08 million for the quarter, compared to analysts’ expectations of $522.04 million. Liberty Oilfield Services had a net margin of 3.40% and a return on equity of 9.20%. As a group, sell-side analysts forecast that Liberty Oilfield Services Inc will post 0.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Thursday, December 5th. Liberty Oilfield Services’s payout ratio is 11.05%.

A number of brokerages recently issued reports on LBRT. TheStreet cut Liberty Oilfield Services from a “c-” rating to a “d+” rating in a report on Thursday, August 22nd. Morgan Stanley lowered their price target on Liberty Oilfield Services from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. ValuEngine raised Liberty Oilfield Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America initiated coverage on Liberty Oilfield Services in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $10.00 price target for the company. Finally, Zacks Investment Research raised Liberty Oilfield Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.13.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in shares of Liberty Oilfield Services in the second quarter worth about $61,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Liberty Oilfield Services during the second quarter valued at approximately $69,000. Meeder Asset Management Inc. bought a new position in Liberty Oilfield Services during the third quarter valued at approximately $63,000. Aperio Group LLC purchased a new stake in shares of Liberty Oilfield Services in the second quarter worth approximately $109,000. Finally, Marshall Wace LLP increased its holdings in Liberty Oilfield Services by 95.7% during the 1st quarter. Marshall Wace LLP now owns 9,050 shares of the company’s stock worth $139,000 after purchasing an additional 4,425 shares during the period.

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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