Massachusetts Financial Services Co. MA trimmed its stake in Liberty Oilfield Services Inc (NYSE:LBRT) by 18.9% in the 3rd quarter, Holdings Channel reports. The firm owned 1,943,727 shares of the company’s stock after selling 453,901 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Liberty Oilfield Services were worth $41,925,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of LBRT. Sei Investments Co. lifted its stake in shares of Liberty Oilfield Services by 70.9% during the 2nd quarter. Sei Investments Co. now owns 8,764 shares of the company’s stock worth $164,000 after acquiring an additional 3,637 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Liberty Oilfield Services during the 1st quarter worth approximately $183,000. Meeder Asset Management Inc. bought a new stake in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $218,000. LPL Financial LLC bought a new stake in shares of Liberty Oilfield Services during the 1st quarter worth approximately $310,000. Finally, Putnam Investments LLC bought a new stake in shares of Liberty Oilfield Services during the 2nd quarter worth approximately $368,000.
In other Liberty Oilfield Services news, Director Energy Part Riverstone/Carlyle sold 2,491,160 shares of Liberty Oilfield Services stock in a transaction on Friday, September 14th. The stock was sold at an average price of $18.96, for a total transaction of $47,232,393.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Day sold 3,000,000 shares of Liberty Oilfield Services stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $21.00, for a total value of $63,000,000.00. The disclosure for this sale can be found here.
A number of equities research analysts recently issued reports on the company. Citigroup decreased their price target on Liberty Oilfield Services from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, July 9th. Stifel Nicolaus assumed coverage on Liberty Oilfield Services in a research note on Monday, September 10th. They set a “buy” rating and a $21.00 price target for the company. Zacks Investment Research lowered Liberty Oilfield Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 21st. Capital One Financial reissued an “overweight” rating on shares of Liberty Oilfield Services in a research note on Wednesday, July 25th. Finally, ValuEngine lowered Liberty Oilfield Services from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Liberty Oilfield Services currently has a consensus rating of “Buy” and a consensus price target of $27.22.
Shares of NYSE LBRT opened at $19.84 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.52 and a quick ratio of 2.22. The firm has a market cap of $2.13 billion and a price-to-earnings ratio of 22.55. Liberty Oilfield Services Inc has a twelve month low of $16.00 and a twelve month high of $23.90.
Liberty Oilfield Services (NYSE:LBRT) last issued its earnings results on Tuesday, October 30th. The company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.07). The firm had revenue of $558.78 million for the quarter, compared to the consensus estimate of $579.03 million. Liberty Oilfield Services had a net margin of 6.03% and a return on equity of 22.01%. Research analysts expect that Liberty Oilfield Services Inc will post 2.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, December 5th. Liberty Oilfield Services’s dividend payout ratio (DPR) is presently 22.73%.
Liberty Oilfield Services Profile
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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