American International Group Inc. lifted its stake in shares of Liberty Oilfield Services Inc. (NYSE:LBRT) by 12.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,285 shares of the company’s stock after acquiring an additional 5,233 shares during the period. American International Group Inc.’s holdings in Liberty Oilfield Services were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of LBRT. Van ECK Associates Corp raised its holdings in shares of Liberty Oilfield Services by 69.9% during the 4th quarter. Van ECK Associates Corp now owns 4,052,501 shares of the company’s stock worth $41,781,000 after acquiring an additional 1,667,411 shares during the period. BlackRock Inc. raised its holdings in Liberty Oilfield Services by 29.3% in the 4th quarter. BlackRock Inc. now owns 5,395,771 shares of the company’s stock valued at $55,631,000 after buying an additional 1,222,010 shares during the period. Exor Capital LLP raised its holdings in Liberty Oilfield Services by 13.2% in the 1st quarter. Exor Capital LLP now owns 4,660,654 shares of the company’s stock valued at $52,619,000 after buying an additional 542,600 shares during the period. JPMorgan Chase & Co. raised its holdings in Liberty Oilfield Services by 630.3% in the 4th quarter. JPMorgan Chase & Co. now owns 386,012 shares of the company’s stock valued at $3,979,000 after buying an additional 333,157 shares during the period. Finally, Cannell Capital LLC purchased a new stake in Liberty Oilfield Services in the 4th quarter valued at about $2,901,000. Institutional investors and hedge funds own 58.70% of the company’s stock.
Shares of Liberty Oilfield Services stock opened at $15.30 on Friday. Liberty Oilfield Services Inc. has a one year low of $4.91 and a one year high of $17.78. The firm has a market capitalization of $2.76 billion, a P/E ratio of -9.68 and a beta of 3.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.15 and a current ratio of 1.48. The stock’s 50-day moving average is $13.17.
Liberty Oilfield Services (NYSE:LBRT) last announced its quarterly earnings data on Tuesday, April 27th. The company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.05. Liberty Oilfield Services had a negative return on equity of 13.54% and a negative net margin of 14.49%. The business had revenue of $552.03 million during the quarter, compared to the consensus estimate of $490.64 million. On average, analysts forecast that Liberty Oilfield Services Inc. will post -0.39 EPS for the current year.
In related news, CEO Christopher A. Wright sold 15,000 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $11.32, for a total transaction of $169,800.00. Following the sale, the chief executive officer now owns 3,844,752 shares of the company’s stock, valued at $43,522,592.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Energy Part Riverstone/Carlyle sold 12,299,996 shares of the stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $15.20, for a total value of $186,959,939.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,553,096 shares of company stock valued at $190,439,144. Corporate insiders own 4.20% of the company’s stock.
LBRT has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Liberty Oilfield Services from a “sell” rating to a “hold” rating in a report on Wednesday, March 17th. Morgan Stanley boosted their price objective on shares of Liberty Oilfield Services from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, March 25th. Finally, The Goldman Sachs Group initiated coverage on Liberty Oilfield Services in a research report on Thursday, May 13th. They issued a “buy” rating and a $17.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $12.25.
Liberty Oilfield Services Profile
Liberty Oilfield Services Inc provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. The company also offers hydraulic fracturing pressure pumping services, including pressure pumping and pumpdown perforating services; and operates two sand mines in the Permian Basin.
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