Liberty Oilfield Services Inc (NYSE:LBRT) Short Interest Up 7.4% in May

Liberty Oilfield Services Inc (NYSE:LBRT) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 6,838,600 shares, a growth of 7.4% from the April 30th total of 6,365,500 shares. Based on an average daily volume of 593,400 shares, the days-to-cover ratio is currently 11.5 days. Currently, 19.4% of the company’s shares are sold short.

In other Liberty Oilfield Services news, Director Energy Part Riverstone/Carlyle sold 8,000,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $14.61, for a total transaction of $116,880,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Stock sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $17.01, for a total value of $1,530,900.00. The disclosure for this sale can be found here. Insiders sold a total of 8,171,309 shares of company stock valued at $119,803,153 in the last quarter. 6.19% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Liberty Oilfield Services by 3.0% during the fourth quarter. FMR LLC now owns 6,156,284 shares of the company’s stock worth $79,724,000 after acquiring an additional 178,511 shares during the last quarter. Northern Trust Corp raised its position in shares of Liberty Oilfield Services by 8.8% during the fourth quarter. Northern Trust Corp now owns 586,303 shares of the company’s stock worth $7,592,000 after acquiring an additional 47,368 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Liberty Oilfield Services during the fourth quarter worth $4,185,000. Bank of America Corp DE increased its holdings in Liberty Oilfield Services by 81.4% in the fourth quarter. Bank of America Corp DE now owns 118,953 shares of the company’s stock valued at $1,540,000 after purchasing an additional 53,380 shares during the last quarter. Finally, Foresters Investment Management Company Inc. increased its holdings in Liberty Oilfield Services by 3.9% in the fourth quarter. Foresters Investment Management Company Inc. now owns 408,200 shares of the company’s stock valued at $5,286,000 after purchasing an additional 15,500 shares during the last quarter.

Shares of NYSE:LBRT traded up $0.08 during trading on Friday, hitting $15.04. 1,001,074 shares of the stock were exchanged, compared to its average volume of 666,851. The company has a fifty day moving average price of $14.41. The company has a quick ratio of 1.48, a current ratio of 1.75 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.68 billion, a P/E ratio of 8.31 and a beta of 2.32. Liberty Oilfield Services has a 1-year low of $12.32 and a 1-year high of $23.51.

Liberty Oilfield Services (NYSE:LBRT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The business had revenue of $535.15 million for the quarter, compared to analyst estimates of $502.55 million. Liberty Oilfield Services had a return on equity of 16.35% and a net margin of 5.50%. As a group, analysts forecast that Liberty Oilfield Services will post 1.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Wednesday, June 5th. Liberty Oilfield Services’s dividend payout ratio is currently 11.05%.

LBRT has been the subject of a number of recent research reports. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley raised to an “overweight” rating and set a GBX 400 ($5.23) price objective on the stock in a research note on Friday. AltaCorp Capital reissued a “sector perform” rating on shares of STEP Energy Services in a research note on Thursday, June 20th. Finally, B. Riley set a $2.00 price objective on Ascena Retail Group and gave the company a “hold” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.11.

Liberty Oilfield Services Company Profile

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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