Morgan Stanley Cuts Liberty Oilfield Services (NYSE:LBRT) Price Target to $20.00

Liberty Oilfield Services (NYSE:LBRT) had its price objective lowered by Morgan Stanley from $21.00 to $20.00 in a research report report published on Friday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other research firms also recently commented on LBRT. B. Riley set a $2.00 price target on Ascena Retail Group and gave the stock a hold rating in a research note on Friday, May 17th. AltaCorp Capital reiterated a sector perform rating on shares of STEP Energy Services in a research note on Thursday, June 20th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $22.11.

Shares of NYSE LBRT opened at $14.67 on Friday. Liberty Oilfield Services has a 12-month low of $12.32 and a 12-month high of $23.51. The firm has a market cap of $1.69 billion, a P/E ratio of 8.10 and a beta of 2.32. The company has a current ratio of 1.75, a quick ratio of 1.48 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $14.46.

Liberty Oilfield Services (NYSE:LBRT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. Liberty Oilfield Services had a return on equity of 16.35% and a net margin of 5.50%. The firm had revenue of $535.15 million during the quarter, compared to the consensus estimate of $502.55 million. As a group, equities analysts predict that Liberty Oilfield Services will post 1.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.36%. Liberty Oilfield Services’s dividend payout ratio is presently 11.05%.

In related news, President Ron Gusek sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $17.50, for a total transaction of $350,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Energy Part Riverstone/Carlyle sold 8,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $14.61, for a total transaction of $116,880,000.00. The disclosure for this sale can be found here. Insiders have sold 8,171,309 shares of company stock worth $119,803,153 in the last quarter. Company insiders own 6.19% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in Liberty Oilfield Services by 3.0% in the fourth quarter. FMR LLC now owns 6,156,284 shares of the company’s stock worth $79,724,000 after buying an additional 178,511 shares during the last quarter. Millennium Management LLC grew its position in Liberty Oilfield Services by 885.5% during the 4th quarter. Millennium Management LLC now owns 1,487,556 shares of the company’s stock worth $19,264,000 after purchasing an additional 1,336,610 shares in the last quarter. Northern Trust Corp grew its position in Liberty Oilfield Services by 8.8% during the 4th quarter. Northern Trust Corp now owns 586,303 shares of the company’s stock worth $7,592,000 after purchasing an additional 47,368 shares in the last quarter. Bank of New York Mellon Corp grew its position in Liberty Oilfield Services by 216.0% during the 4th quarter. Bank of New York Mellon Corp now owns 427,730 shares of the company’s stock worth $5,540,000 after purchasing an additional 292,368 shares in the last quarter. Finally, Foresters Investment Management Company Inc. grew its position in Liberty Oilfield Services by 3.9% during the 4th quarter. Foresters Investment Management Company Inc. now owns 408,200 shares of the company’s stock worth $5,286,000 after purchasing an additional 15,500 shares in the last quarter.

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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Analyst Recommendations for Liberty Oilfield Services (NYSE:LBRT)

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