Equities Analysts Issue Forecasts for Liberty Oilfield Services Inc’s FY2019 Earnings (LBRT)
Liberty Oilfield Services Inc (NYSE:LBRT) – Research analysts at Piper Jaffray Companies reduced their FY2019 earnings per share (EPS) estimates for Liberty Oilfield Services in a report released on Sunday, September 9th. Piper Jaffray Companies analyst J. Daniel now forecasts that the company will earn $1.74 per share for the year, down from their previous estimate of $2.05. Piper Jaffray Companies has a “Buy” rating and a $30.00 price target on the stock. Piper Jaffray Companies also issued estimates for Liberty Oilfield Services’ Q4 2019 earnings at $0.53 EPS.
Several other research analysts also recently issued reports on the company. Stifel Nicolaus began coverage on Liberty Oilfield Services in a research note on Monday. They set a “buy” rating and a $21.00 price target for the company. ValuEngine downgraded Liberty Oilfield Services from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Zacks Investment Research raised Liberty Oilfield Services from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 30th. Citigroup boosted their target price on shares of Liberty Oilfield Services from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Morgan Stanley boosted their target price on shares of Liberty Oilfield Services from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. Liberty Oilfield Services presently has an average rating of “Buy” and a consensus price target of $27.89.
Liberty Oilfield Services (NYSE:LBRT) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.13. The firm had revenue of $628.08 million for the quarter, compared to analyst estimates of $543.64 million.
A number of hedge funds have recently made changes to their positions in LBRT. Wells Fargo & Company MN acquired a new position in Liberty Oilfield Services in the 1st quarter valued at about $16,013,000. Rhumbline Advisers acquired a new position in Liberty Oilfield Services in the 1st quarter valued at about $223,000. Alps Advisors Inc. acquired a new position in Liberty Oilfield Services in the 1st quarter valued at about $440,000. American Century Companies Inc. acquired a new position in Liberty Oilfield Services in the 1st quarter valued at about $1,698,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Liberty Oilfield Services in the 1st quarter valued at about $42,284,000.
The company also recently announced a special dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, September 6th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, September 5th. Liberty Oilfield Services’s payout ratio is 22.73%.
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. 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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