Vanguard Group Inc. grew its holdings in shares of Liberty Oilfield Services Inc (NYSE:LBRT) by 144.8% during the third quarter, HoldingsChannel.com reports. The firm owned 2,769,980 shares of the company’s stock after purchasing an additional 1,638,479 shares during the quarter. Vanguard Group Inc.’s holdings in Liberty Oilfield Services were worth $59,748,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Legal & General Group Plc increased its stake in Liberty Oilfield Services by 213.8% during the third quarter. Legal & General Group Plc now owns 6,647 shares of the company’s stock worth $143,000 after purchasing an additional 4,529 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Liberty Oilfield Services by 42.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,297 shares of the company’s stock worth $610,000 after purchasing an additional 8,488 shares during the period. Quantbot Technologies LP purchased a new stake in Liberty Oilfield Services during the third quarter worth about $186,000. Alambic Investment Management L.P. purchased a new stake in Liberty Oilfield Services during the third quarter worth about $215,000. Finally, Alliancebernstein L.P. increased its stake in Liberty Oilfield Services by 57.8% during the third quarter. Alliancebernstein L.P. now owns 43,400 shares of the company’s stock worth $936,000 after purchasing an additional 15,900 shares during the period.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Liberty Oilfield Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Stifel Nicolaus upped their target price on shares of Liberty Oilfield Services from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, October 10th. Wolfe Research assumed coverage on shares of Liberty Oilfield Services in a research note on Wednesday, October 10th. They set an “outperform” rating on the stock. Citigroup lowered shares of Liberty Oilfield Services from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Tuesday, October 23rd. Finally, ValuEngine lowered shares of Liberty Oilfield Services from a “sell” rating to a “strong sell” rating in a research note on Friday, November 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $27.22.
In related news, Director Energy Part Riverstone/Carlyle sold 76,471 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $17.00, for a total transaction of $1,300,007.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
LBRT stock opened at $15.98 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.18 and a current ratio of 2.45. Liberty Oilfield Services Inc has a fifty-two week low of $12.32 and a fifty-two week high of $23.90. The company has a market cap of $1.85 billion and a P/E ratio of 8.56.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.25%. Liberty Oilfield Services’s payout ratio is 22.73%.
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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. It provides 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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