Liberty Oilfield Services (NYSE:LBRT) upgraded by Bank of America to “buy”

Liberty Oilfield Services (NYSE: LBRT – Get an Assessment) was upgraded by Bank of America research analysts from a “neutral” rating to a “buy” rating in a note to investors released on Friday, The Fly reports.

LBRT has been the subject of a number of other reports. Wells Fargo & Company upgraded Liberty Oilfield Services from an “equal weight” rating to an “overweight” rating and set a $14.00 price target for the company in a Wednesday, Jan. 5 research note. Citigroup reduced its price target on Liberty Oilfield Services from $15.00 to $14.00 and set a “buy” rating for the company in a Thursday, Nov. 11 research note. Morgan Stanley lowered its price target on Liberty Oilfield Services from $16.00 to $15.00 and set an “overweight” rating on the stock in a Monday, Feb. 14 research report. Finally, Zacks Investment Research upgraded Liberty Oilfield Services from a “sell” rating to a “hold” rating and set a price target of $10.00 on the stock in a Monday, Jan. 3 research report. Six analysts gave the stock a hold rating and five gave the stock a buy rating. Based on MarketBeat data, Liberty Oilfield Services has a consensus rating of “Hold” and an average target price of $13.82.

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Liberty Oilfield Services shares opened at $14.95 on Friday. The company has a 50-day simple moving average of $12.21 and a two-hundred-day simple moving average of $11.38. The company has a market capitalization of $2.78 billion, a P/E ratio of -14.51 and a beta of 2.59. Liberty Oilfield Services has a 52-week low of $8.50 and a 52-week high of $17.78. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt ratio of 0.10.

Liberty Oilfield Services (NYSE:LBRT – Get Rating) last released its quarterly results on Tuesday, February 8. The company reported ($0.30) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($0.17) by ($0.13). The company posted revenue of $683.74 million for the quarter, versus a consensus estimate of $677.36 million. Liberty Oilfield Services had a negative net margin of 7.25% and a negative return on equity of 14.40%. In the same quarter a year earlier, the company earned $0.33 per share. Research analysts expect Liberty Oilfield Services to post -0.07 EPS for the current fiscal year.

Separately, major shareholder Limited/Nv Schlumberger sold 7,224,173 shares of the company in a transaction that took place on Monday, February 28. The stock was sold at an average price of $11.60, for a total transaction of $83,800,406.80. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, CEO Christopher A. Wright sold 50,000 shares of the company in a transaction that took place on Tuesday, February 1. The stock was sold at an average price of $12.57, for a total value of $628,500.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 7,288,500 shares of the company worth $84,602,542. 4.20% of the shares are held by insiders.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Guggenheim Capital LLC increased its position in Liberty Oilfield Services shares by 9.5% during the third quarter. Guggenheim Capital LLC now owns 153,524 shares of the company valued at $1,862,000 after purchasing an additional 13,341 shares in the last quarter. Belvedere Trading LLC increased its position in Liberty Oilfield Services by 13.7% in Q3. Belvedere Trading LLC now owns 46,986 shares of the company valued at $725,000 after acquiring an additional 5,658 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Liberty Oilfield Services in Q2 worth $271,000. Barclays PLC increased its position in Liberty Oilfield Services by 211.0% in Q3. Barclays PLC now owns 70,488 shares in the company valued at $854,000 after acquiring a further 47,820 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in Liberty Oilfield Services by 4.3% in the third quarter. Allianz Asset Management GmbH now owns 120,705 shares of the company valued at $1,464,000 after acquiring 5,008 additional shares in the last quarter. 85.86% of the shares are currently held by hedge funds and other institutional investors.

About Liberty Oilfield Services (Get a rating)

Liberty Oilfield Services, Inc. provides hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America. Its hydraulic fracturing fleets consist of mobile hydraulic fracturing units and other ancillary heavy equipment to perform fracturing services.

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Analyst Recommendations for Liberty Oilfield Services (NYSE: LBRT)

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