Liberty Oilfield Services Inc (NYSE:LBRT) Sees Significant Decline in Short Interest

Liberty Oilfield Services Inc (NYSE:LBRT) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 7,410,000 shares, a decrease of 10.9% from the September 30th total of 8,320,000 shares. Currently, 14.0% of the company’s shares are sold short. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is currently 7.3 days.

In other Liberty Oilfield Services news, Director Brett Staffieri sold 23,341 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $10.35, for a total transaction of $241,579.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Energy Part Riverstone/Carlyle sold 5,750,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $9.02, for a total value of $51,865,000.00. Corporate insiders own 6.19% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of LBRT. Bank of Montreal Can purchased a new position in Liberty Oilfield Services in the second quarter valued at about $61,000. Meeder Asset Management Inc. purchased a new position in Liberty Oilfield Services in the third quarter valued at about $63,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Liberty Oilfield Services in the second quarter valued at about $69,000. Aperio Group LLC purchased a new position in Liberty Oilfield Services in the second quarter valued at about $109,000. Finally, Marshall Wace LLP boosted its holdings in Liberty Oilfield Services by 95.7% in the first quarter. Marshall Wace LLP now owns 9,050 shares of the company’s stock valued at $139,000 after purchasing an additional 4,425 shares during the last quarter.

A number of equities research analysts have recently issued reports on LBRT shares. Morgan Stanley lowered their target price on Liberty Oilfield Services from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Wells Fargo & Co lowered their target price on Liberty Oilfield Services from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. ValuEngine upgraded Liberty Oilfield Services from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays reiterated a “buy” rating and issued a $16.00 target price on shares of Liberty Oilfield Services in a research note on Thursday, October 17th. Finally, Citigroup lowered their target price on Liberty Oilfield Services from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.13.

Shares of LBRT stock traded down $0.37 during trading hours on Monday, reaching $8.29. The company had a trading volume of 974,872 shares, compared to its average volume of 748,214. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.61 and a current ratio of 1.95. Liberty Oilfield Services has a twelve month low of $8.13 and a twelve month high of $19.85. The company has a market capitalization of $974.45 million, a P/E ratio of 4.58 and a beta of 2.32. The stock’s fifty day simple moving average is $9.31 and its 200 day simple moving average is $12.32.

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 analysts’ consensus estimates of $0.27 by ($0.12). The company had revenue of $515.08 million during the quarter, compared to analyst estimates 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, equities analysts expect that Liberty Oilfield Services will post 0.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Thursday, December 5th. Liberty Oilfield Services’s dividend payout ratio is currently 11.05%.

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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